Question: Belk was founded in 1888 by William Henry Belk in Monroe, NC. It remained a family-owned department store until 2015 when it was purchased by Sycamore Partners for $3 billion. Saddled with more than $450 million in debt, the company filed for Chapter 11 bankruptcy in February 2021. It emerged from bankruptcy a week later but is still struggling. According to 247 Wall Street, "Belk is still reliant on its brick-and-mortar operations and lacks an e-commerce foothold" which could signal continued fiscal difficulties. You must evaluate the company and the industry in which it competes to make recommendations on the steps the company might take to turn itself around.
What are the long-range targets for this company?