Business

Belk reports strong holiday sales

January 14, 2015

(The Charlotte Observer)

Charlotte-based Belk reported that sales increased 5.2% during the nine-week period ending Jan. 3, compared with the same period a year ago. CEO Tim Belk said online sales increased by 44% during the holiday season.

ChannelAdvisor shares plummet 54%

January 14, 2015

(The News & Observer, Raleigh)

Shares of Morrisville-based ChannelAdvisor fell 54% Tuesday as seven analysts downgraded their ratings on the e-commerce company's stock. The company reported on Monday that fourth quarter revenue would be about $23.7 million, less than the $25.6 million to $26.1 million it had previously projected.

Pharr Yarns to buy Georgia carpet manufacturer

January 14, 2015

(The Charlotte Observer)

Pharr Yarns will acquire Dalton, Ga.-based carpet manufacturer Phenix Flooring. Terms of the deal, which is expected to close in March, weren't disclosed. Based in McAdenville, textile manufacturer Pharr has supplied yarn to the carpet industry since the 1950s, President Bill Carstarphen said.

Olde Mecklenburg Brewery adding Triad distribution center

January 14, 2015

(News & Record, Greensboro)

Charlotte-based Olde Mecklenburg Brewery is opening a 50,000-square-foot distribution warehouse in Greensboro with a focus on expanding its customer base in the Triad.

Craven County partnership introduces new logo

January 14, 2015

(New Bern Sun Journal)

The Craven 100 Alliance, a public-private economic-development partnership established in 2014, introduced a new logo and said it has begun forming membership and fundraising committees. The group hopes to raise $1.5 million in private funding to help recruit new business to the area.

Tri-county marketing initiative announced in Southeastern NC

January 14, 2015

(Greater Wilmington Business Journal)

The Southeastern Partnership announced the Wilmington Regional Marketing Initiative, a new campaign in which local leaders from Brunswick, New Hanover and Pender counties will combine marketing efforts to bring jobs to the region.

Davies tapped to lead Citigroup mortgage business

January 14, 2015

(The Charlotte Observer)

Former Wachovia and LendingTree exec C.D. Davies was named head of New York-based Citigroup's global mortgage business.

Lenovo considers spinoff of mobile-device unit amid increased competition in China

January 14, 2015

(WRAL TechWire)

Lenovo CEO Yang Yuanqing said he is considering spinning off a new unit focused on selling mobile devices in China. Announced in October, the unit is supposed to go live in April. 

Fresh Market CEO resigns

January 13, 2015

(News & Record, Greensboro)

Craig Carlock has resigned as president and CEO of The Fresh Market, the company announced Monday. The board of the Greensboro-based grocer named Sean Crane, executive vice president and chief operating officer, interim CEO and has retained a national search firm to find a permanent replacement. 
Related: "Behind the Checkout Counter," May 2013

Fayetteville job-recruitment agency to review strategies

January 13, 2015

(The Fayetteville Observer)

Fayetteville's Economic Development Alliance will conduct an internal review and form a task force to re-examine its target industries following the failed Sanderson Farms proposal. Cumberland County commissioners voted last week against considering a proposal from the Missississippi-based poultry processor that would have created 1,000 jobs.