Belk stores and Belk.com offer apparel, shoes, accessories, cosmetics, home furnishings, and a wedding registry.

Beginning in 1921 with the Leggett Bros. stores of South Boston, Virginia, the Belk company grew by investing in various partnerships with local merchandisers in nearby markets.

[5] This structure allowed Belk to expand quickly and permitted local variation, but resulted in a diluted brand identity since most stores were co-branded.

By the 1990s, the system had become increasingly untenable: stores were held by over 350 separate legal entities, Belk family members disagreed about whether to maintain or sweep away the structure, and some local partners threatened stability by selling their stakes.

On July 5, 2005, Belk completed the purchase of 47 Proffitt's and McRae's department stores from Saks Incorporated, primarily in Tennessee and Mississippi.

Integrating the larger, more upscale Parisian stores proved a challenge for Belk, and spurred the creation of the company's flagship strategy.

[15] On August 24, 2015, Belk announced that it had entered into a definitive merger agreement to be acquired by New York–based private equity firm Sycamore Partners.

Celebrity-branded product lines are another pursuit, including a partnership with actress Kristin Davis for a ladies apparel and accessories collection which debuted in fall 2008 in 125 store locations and online.

In July 2020, it was announced that Sycamore Partners had made a $1.75 billion offer to acquire department store chain and competitor JCPenney out of bankruptcy.

Sycamore would retain majority control of Belk, while private equity firms KKR and Blackstone would receive a minority stake in the company following its emergence from bankruptcy.

[23][24] On February 24, 2021, just one day after filing for Chapter 11 Bankruptcy the company announced that it had successfully completed its financial restructuring, finalizing an expedited pre-packaged, one-day reorganization and emerging well-positioned for long-term growth.

The plan received nearly unanimous support from existing lenders, supply providers, and landlords to be paid in full as normal operations continue at all store locations.

[25][26][27] On July 6, 2021, Belk announced that Nir Patel has been promoted to CEO from his previous position of president and chief merchandising officer.

Patel replaces Lisa Harper who has been the company's CEO since July 2016, but will now serve as executive chair of the Belk Board of Directors.

On July 18, 2013, Belk announced a six-year extension of the bowl partnership with the Atlantic Coast Conference (ACC), beginning in 2014.

[32] The chain has multiple "flagship" locations—larger locations in urban and metropolitan centers,[33] and a wider array of merchandise and services including in-store salons.