<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
---------------
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
BELK, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock, Par Value $.01 Per Share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
N/A
- --------------------------------------------------------------------------------
(CUSIP Number)
Ralph A. Pitts
Belk, Inc.
2801 West Tyvola Road
Charlotte, North Carolina 28217-4500
(704) 357-1000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy to:
John D. Capers, Jr.
King & Spalding
191 Peachtree Street, N.E.
Atlanta, Georgia 30303
May 2, 1998
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
NOTE: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See
Rule 13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 15 Pages)
<PAGE> 2
CUSIP NO. N/A 13D PAGE 2 OF 15 PAGES
--------------------- -------- --------
(1) NAMES OF REPORTING PERSONS
John M. Belk
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
00 - See Item 3
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------------------------------------------------------
(7) SOLE VOTING POWER 7,946,606
NUMBER OF Class A Common Stock
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER 10,437,047(1)
OWNED BY Class A Common Stock
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER 7,946,606
PERSON WITH Class A Common Stock
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER 10,437,047(1)
Class A Common Stock
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,383,653
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.8%(2)
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
- --------------
(1) See Item 5.
(2) Assumes a total of 59,713,460 shares of Class A Common Stock outstanding.
Page 2 of 15 Pages
<PAGE> 3
CUSIP NO. N/A 13D PAGE 3 OF 15 PAGES
--------------------- -------- --------
(1) NAMES OF REPORTING PERSONS
Thomas M. Belk, Jr.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
00 - See Item 3
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------------------------------------------------------
(7) SOLE VOTING POWER 1,121,033
NUMBER OF Class A Common Stock
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER 6,092,572(1)
OWNED BY Class A Common Stock
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER 1,121,033
PERSON WITH Class A Common Stock
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER 6,092,572(1)
Class A Common Stock
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,213,605
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.1%(2)
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
- --------------
(1) See Item 5.
(2) Assumes a total of 59,713,460 shares of Class A Common Stock outstanding.
Page 3 of 15 Pages
<PAGE> 4
CUSIP NO. N/A 13D PAGE 4 OF 15 PAGES
--------------------- -------- --------
(1) NAMES OF REPORTING PERSONS
H. W. McKay Belk
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
00 - See Item 3
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------------------------------------------------------
(7) SOLE VOTING POWER 1,096,549
NUMBER OF Class A Common Stock
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER 5,887,584(1)
OWNED BY Class A Common Stock
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER 1,096,549
PERSON WITH Class A Common Stock
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER 5,887,584(1)
Class A Common Stock
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,984,133
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.7%(2)
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
- --------------
(1) See Item 5.
(2) Assumes a total of 59,713,460 shares of Class A Common Stock outstanding.
Page 4 of 15 Pages
<PAGE> 5
CUSIP NO. N/A 13D PAGE 5 OF 15 PAGES
--------------------- -------- --------
(1) NAMES OF REPORTING PERSONS
John R. Belk
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
00 - See Item 3
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------------------------------------------------------
(7) SOLE VOTING POWER 1,137,804
NUMBER OF Class A Common Stock
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER 5,847,593(1)
OWNED BY Class A Common Stock
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER 1,137,804
PERSON WITH Class A Common Stock
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER 5,847,593(1)
Class A Common Stock
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,985,397
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.7%(2)
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
- --------------
(1) See Item 5.
(2) Assumes a total of 59,713,460 shares of Class A Common Stock outstanding.
Page 5 of 15 Pages
<PAGE> 6
CUSIP NO. N/A 13D PAGE 6 OF 15 PAGES
--------------------- -------- --------
(1) NAMES OF REPORTING PERSONS
Katherine McKay Belk
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
00 - See Item 3
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------------------------------------------------------
(7) SOLE VOTING POWER 918,561
NUMBER OF Class A Common Stock
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER 6,129,549(1)
OWNED BY Class A Common Stock
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER 918,561
PERSON WITH Class A Common Stock
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER 6,129,549(1)
Class A Common Stock
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,048,110
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.8%(2)
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
- --------------
(1) See Item 5.
(2) Assumes a total of 59,713,460 shares of Class A Common Stock outstanding.
Page 6 of 15 Pages
<PAGE> 7
CUSIP NO. N/A 13D PAGE 7 OF 15 PAGES
--------------------- -------- --------
(1) NAMES OF REPORTING PERSONS
Katherine Belk Morris
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
00 - See Item 3
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------------------------------------------------------
(7) SOLE VOTING POWER 1,148,305
NUMBER OF Class A Common Stock
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER 5,888,408(1)
OWNED BY Class A Common Stock
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER 1,148,305
PERSON WITH Class A Common Stock
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER 5,888,408(1)
Class A Common Stock
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,036,713
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.8%(2)
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
- --------------
(1) See Item 5.
(2) Assumes a total of 59,713,460 shares of Class A Common Stock outstanding.
Page 7 of 15 Pages
<PAGE> 8
STATEMENT PURSUANT TO RULE 13d-1
OF THE
GENERAL RULES AND REGULATIONS
UNDER THE
SECURITIES EXCHANGE ACT OF 1934
Item 1. Security and Issuer
The class of equity securities to which this Statement on Schedule 13D relates
is the Class A Common Stock, par value $.01 per share ("Class A Common Stock"),
of Belk, Inc. ("Belk"), a Delaware corporation. Belk's principal executive
offices are located at 2801 West Tyvola Road, Charlotte, North Carolina
28217-4500.
Item 2. Identity and Background
(a) Pursuant to Rules 13d(1)(k)(1) and (2) of Regulations D-G of the General
Rules and Regulations under the Securities Exchange Act of 1934, as amended (the
"Act"), the undersigned hereby files this Schedule 13D on behalf of John M.
Belk, Thomas M. Belk, Jr., H. W. McKay Belk, John R. Belk, Katherine McKay Belk,
Katherine Belk Morris and Leroy Robinson. Such persons are sometimes hereinafter
collectively referred to as the "Reporting Persons." The Reporting Persons are
making this single, joint filing because they may be deemed to constitute a
"group" within the meaning of Section 13(d)(3) of the Act, although neither the
fact of this filing nor anything contained herein shall be deemed an admission
by the Reporting Persons that a group exists. The Reporting Persons own Class A
Common Stock both directly and indirectly. See Item 5.
(b)-(c) John M. Belk
Mr. Belk's business address is 2801 West Tyvola Road, Charlotte, North
Carolina 28217-4500. Mr. Belk is the Chairman of the Board of Directors and
Chief Executive Officer of Belk.
Thomas M. Belk. Jr.
Mr. Belk's business address is 2801 West Tyvola Road, Charlotte, North
Carolina 28217-4500. Mr. Belk is a President and a director of Belk.
H. W. McKay Belk
Mr. Belk's business address is 2801 West Tyvola Road, Charlotte, North
Carolina 28217-4500. Mr. Belk is a President and a director of Belk.
John R. Belk
Mr. Belk's business address is 2801 West Tyvola Road, Charlotte, North
Carolina 28217-4500. Mr. Belk is a President and a director of Belk.
Katherine McKay Belk
Mrs. Belk's business address is 2801 West Tyvola Road, Charlotte,
North Carolina 28217-4500. Mrs. Belk is currently retired.
Page 8 of 15 Pages
<PAGE> 9
Katherine Belk Morris
Mrs. Morris' business address is 2801 West Tyvola Road, Charlotte,
North Carolina 28217-4500. Mrs. Morris is currently retired.
Leroy Robinson
Mr. Robinson's business address is 2801 West Tyvola Road, Charlotte,
North Carolina 28217-4500. Mr. Robinson is retired.
(d)-(e) During the last five years, none of the persons identified in
this Item 2 (i) has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or (ii) has been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and,
as a result of such proceeding, become subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, Federal or State securities laws or finding any violation with
respect to such laws.
(f) All of the Reporting Persons are citizens of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
Pursuant to the Plan and Agreement of Reorganization (the "Reorganization
Agreement"), dated as of November 25, 1997, as amended, by and among Belk, Belk
Acquisition Co., a South Carolina corporation, and the Belk Companies named
therein (the "Belk Companies"), the Belk Companies were merged with and into
Belk, with Belk as the surviving corporation (the "Reorganization"). At the
Effective Time of the Reorganization (as defined in the Reorganization
Agreement), each outstanding share of capital stock (other than treasury shares
and shares held by Belk Companies in other Belk Companies) of each Belk Company
("Belk Companies Common Stock") was converted into the right to receive a number
of shares of Class A Common Stock as set forth in the Reorganization Agreement.
Fractional shares were not issued. The Reporting Persons owned, directly and
indirectly, shares of Belk Companies Common Stock that were converted into Class
A Common Stock in the Reorganization.
The foregoing summary of the terms of the Reorganization Agreement does not
purport to be complete and is qualified in its entirety by reference to the full
text of the Reorganization Agreement, a copy of which is attached as Annex B to
Belk's Proxy Statement/Prospectus, as mailed to shareholders of the Belk
Companies on March 13, 1998, and is specifically incorporated by reference
herein.
Item 4. Purpose of Transaction.
The purpose of the underlying transaction which resulted in the Reporting
Persons' beneficial ownership was the Reorganization. Upon effectiveness of the
Reorganization, each outstanding share of Belk Companies Common Stock converted
into the right to receive a number of shares of Class A Common Stock, as set
forth in the Reorganization Agreement.
The Reporting Persons may, from time to time, increase, reduce or dispose of
their investment in Belk, depending on general economic conditions in the
markets in which Belk operates, the market price of the Class A Common Stock,
the availability of funds, other opportunities available to the Reporting
Persons, and other considerations.
Other than those changes instituted upon effectiveness of the Reorganization
Agreement, the Reporting Persons have no plans or proposals that relate to or
would result in any of the matters referred to in paragraphs (a)-(j) of Item 4
Page 9 of 15 Pages
<PAGE> 10
of Schedule 13D. Such changes pursuant to the Reorganization Agreement included
changes to the Board of Directors, an increase in authorized stock and
amendments to the Certificate of Incorporation and Bylaws.
Item 5. Interest in Securities of the Issuer.
(a)-(b) The Reporting Persons own shares of Class A Common Stock both directly
and indirectly. The following chart demonstrates such ownership. An asterisk
indicates less than 1% ownership for any particular entity through which such
shares of Class A Common Stock are indirectly held.
<TABLE>
<CAPTION>
Percentage of
Number of Outstanding Class A Attributed
Owner Shares Owned Common Stock(l) Beneficial Ownership
----- ------------ --------------- --------------------
<S> <C> <C> <C>
Montgomery Investment 2,079,910 3.483% John M. Belk has shared power
Company to dispose of and direct the
voting of these shares(2)
Brothers Investment Company 1,484,374 2.486% John M. Belk and Estate of
Thomas M. Belk share
disposition and voting power
over these shares(3)
Mary Claudia, Inc. 15,448 * John M. Belk has shared power
to dispose of and direct the
voting of these shares(2)
Claudia Watkins Belk Grantor 6,555 * John M. Belk has shared power
Trust dated 2/23/96 to dispose of and direct the
voting of these shares(4)
Claudia W. Belk Tr. u/a f/b/o 21,862 * John M. Belk has shared power
Mary Claudia Belk to dispose of and direct the
voting of these shares(4)
Mary Claudia Belk Irrevocable 102,070 * John M. Belk has shared power
Trust dated 1/4/94 to dispose of and direct the
voting of these shares(4)
Milburn Investment Company 444,212 * Estate of Thomas M. Belk(3)
Thomas M.Belk, Trust dated 3,706,151 6.2065% Shared(5)
September 15, 1993
Trusts established by 1,140,080 1.90925% Shared(6)
W. H. Belk
Trusts under the will of 1,436,385 2.4054% Shared(7)
Mary I. Belk
Thomas Belk, Jr. (as custodian 226,521 * Thomas M. Belk, Jr. has shared
for his minor children) power to vote and direct the
disposition of these shares
</TABLE>
Page 10 of 15 Pages
<PAGE> 11
<TABLE>
<CAPTION>
Percentage of
Number of Outstanding Class A Attributed
Owner Shares Owned Common Stock(l) Beneficial Ownership
----- ------------ --------------- --------------------
<S> <C> <C> <C>
Thomas M. Belk, Jr. (as 207,855 * Thomas M. Belk, Jr. has shared
custodian for the minor children power to vote and direct the
of H. W. McKay Belk) disposition of these shares
Sarah F. Belk (wife of 23,459 * Thomas M. Belk, Jr. has shared
Thomas M. Belk, Jr.) power to vote and direct the
disposition of these shares
H. W. McKay Belk (as 227,877 * H. W. McKay Belk has shared
custodian for his minor power to vote and direct the
children) disposition of these shares
Nina F. Belk (wife of 24,970 * H. W. McKay Belk has shared
H. W. McKay Belk) power to vote and direct the
disposition of these shares
John R. Belk (as custodian for 191,333 * John R. Belk has shared power to
his minor children) vote and direct the disposition of
these shares
Kimberly D. Belk (wife of 21,523 * John R. Belk has shared power to
John R. Belk) vote and direct the disposition of
these shares
Katherine Belk Morris (as 228,701 * Katherine Belk Morris has shared
custodian for her minor power to vote and direct the
children) disposition of these shares
Charles Walker Morris (husband 24,970 * Katherine Belk Morris has shared
of Katherine Belk Morris) power to vote and direct the
disposition of these shares
Katherine M. Belk (as custodian 494,812 * Katherine M. Belk has shared
for her minor grandchildren) power to vote and direct the
disposition of these shares
John M. Belk 7,946,606 13.3079% John M. Belk has the sole power
to vote and direct the disposition
of these shares
Thomas M. Belk, Jr. 1,121,033 1.877% Thomas M. Belk, Jr. has the sole
power to vote and direct the
disposition of these shares
H. W. McKay Belk 1,096,549 1.8364% H. W. McKay Belk has the sole
power to vote and direct the
disposition of these shares
</TABLE>
Page 11 of 15 Pages
<PAGE> 12
<TABLE>
<CAPTION>
Percentage of
Number of Outstanding Class A Attributed
Owner Shares Owned Common Stock(l) Beneficial Ownership
----- ------------ --------------- --------------------
<S> <C> <C> <C>
John R. Belk 1,137,804 1.9054% John R. Belk has the sole power
to vote and direct the disposition
of these shares
Katherine McKay Belk 918,561 1.5383% Katherine McKay Belk has the
sole power to vote and direct the
disposition of these shares
Katherine Belk Morris 1,148,305 1.923% Katherine Belk Morris has the
sole power to vote and direct the
disposition of these shares
</TABLE>
- --------------------------
(1) Calculated on the basis of 59,713,460 shares of Class A Common Stock
outstanding.
(2) John M. Belk is the majority shareholder of Montgomery Investment Company
and of Mary Claudia, Inc.
(3) Voting and Disposition power is shared by John M. Belk, Katherine McKay
Belk, Kathrine Belk Morris, Thomas M. Belk, Jr., H. W. McKay Belk, John R.
Belk and Leroy Robinson.
(4) Mr. Belk's wife is the trustee of the Claudia Watkins Belk Grantor Trust
dated 2/23/96, the Claudia W. Belk Tr. u/a f/b/o Mary Claudia Belk and the
Mary Claudia Belk Irrevocable Trust dated 1/4/94.
(5) Voting and disposition power is shared by John M. Belk, Katherine McKay
Belk, Katherine Belk Morris, Thomas M. Belk, Jr., H. W. McKay Belk, John R.
Belk and Leroy Robinson.
(6) Voting and disposition power for the trusts for John M. Belk and certain
other Belk family members is shared by John M. Belk and certain other
trustees.
(7) Voting and disposition power for the trusts for John M. Belk and certain
other Belk family members is shared by John M. Belk and certain other
trustees.
(c) Except for the issuance of the shares of Class A Common Stock
pursuant to the Reorganization Agreement described in response to Items 3 and 4
(which responses are specifically incorporated by reference herein), no
transactions in Class A Common Stock were affected during the past 60 days by
any of the entities or natural persons listed in this Item 5.
(d) No other person is known to have the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the sale of, the
securities described above.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
Other than the Reorganization Agreement described in response to Items
3 and 4 (which responses are specifically incorporated by reference herein) and
any ancillary documents executed pursuant to the Reorganization Agreement, there
are no contracts, arrangements, understandings or relationships with respect to
the shares of Class A Common Stock owned by the Reporting Persons.
Page 12 of 15 Pages
<PAGE> 13
Item 7. Material to be filed as Exhibits.
The following Exhibits are filed as part of this Schedule 13D Statement:
Exhibit A -- Plan and Agreement of Reorganization, dated as of November 25,
1997, by and among Belk, Belk Acquisition Co. and the Belk
Companies (incorporated by reference to Exhibit 2.1 to Belk's
Amendment No. 1 to Registration Statement on Form S-4 filed with
the Commission on March 5, 1998).
Exhibit B -- Agreement to file Schedule 13D jointly pursuant to Rule
13d-1(k)(1)(iii).
Page 13 of 15 Pages
<PAGE> 14
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: May 12, 1998.
JOHN M. BELK
/s/ John M. Belk
-----------------------------------
THOMAS M. BELK, JR.
/s/ Thomas M. Belk, Jr.
-----------------------------------
H. W. MCKAY BELK
/s/ H. W. McKay Belk
-----------------------------------
JOHN R. BELK
/s/ John R. Belk
-----------------------------------
KATHERINE MCKAY BELK
/s/ Katherine McKay Belk
-----------------------------------
KATHERINE BELK MORRIS
/s/ Katherine Belk Morris
-----------------------------------
LEROY ROBINSON
/s/ Leroy Robinson
-----------------------------------
Page 14 of 15 Pages
<PAGE> 15
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit Description
- ------- -----------
<S> <C>
A Plan and Agreement of Reorganization, dated as of November 25,
1997, by and among Belk, Belk Acquisition Co. and the Belk
Companies (incorporated by reference to Exhibit 2.1 to Belk's
Amendment No. 1 to Registration Statement on Form S-4 filed
with the Commission on March 5, 1998).
B Agreement to file Schedule 13D jointly pursuant to Rule
13d-1(k)(1)(iii), filed herewith.
</TABLE>
Page 15 of 15 Pages
<PAGE> 1
EXHIBIT B
SCHEDULE 13D
JOINT FILING AGREEMENT
AGREEMENT dated as of May 12, 1998 among John M. Belk, Thomas M. Belk,
Jr., H.W. McKay Belk, John R. Belk, Katherine McKay Belk, Katherine Belk
Morris and Leroy Robinson (collectively, the "Filing Persons").
WHEREAS, pursuant to paragraph (k) of Rule 13d-1 promulgated under
Subsection 13d(1) of the Securities Exchange Act of 1934, as amended (the
"Act"), the parties hereto have decided to satisfy their filing obligations
under the Act by a single joint filing;
NOW, THEREFORE, the undersigned do hereby agree as follows:
1. The Schedule 13D ("Schedule 13D") with respect to Belk, Inc.,
the form of which is attached hereto as Exhibit A, is filed on behalf of the
Filing Persons. Each of the Filing Persons authorizes Thomas M. Belk, Jr. to
file the Schedule 13D on behalf of the Filing Persons.
2. Each of the Filing Persons is responsible for the
completeness and accuracy of the information concerning such person or entity
contained therein; provided that each person or entity is not responsible for
the completeness or accuracy of the information concerning any other person or
entity making such filing.
<PAGE> 2
IN WITNESS WHEREOF, the undersigned hereunto set their hands as of the date
first written above.
JOHN M. BELK
/s/ JOHN M. BELK
THOMAS M. BELK, JR.
/s/ THOMAS M. BELK, JR.
H.W. MCKAY BELK
/s/ H.W. MCKAY BELK
JOHN R. BELK
/s/ JOHN R. BELK
KATHERINE MCKAY BELK
/s/ KATHERINE MCKAY BELK
KATHERINE BELK MORRIS
/s/ KATHERINE BELK MORRIS
LEROY ROBINSON
/s/ LEROY ROBINSON