Belk stores are opening at 3 a.m. this Black Friday -- a little late in this year's retail race to lure customers.

But Belk is hoping the promise of free gift cards -- $1 million worth -- will be enough to bring shoppers in the door.

Early-bird shoppers at Belk have a chance at snagging a free gift card on Saturday while helping a worthy cause.

At 6 a.m., the retailer will be handing out 100 gift cards to the first 100 shoppers at each of its stores as part of Belk's Fall Charity Sale.

Spiked heels, flats, pumps, sandals, boots and the like will soon cover 9,000 square feet of space at the Belk at Cary Towne Center.

As part of the department store's $4.6 million remodel it's planning a major expansion of its women's shoes and jewelry areas.

Construction will be done in phases and the store will remain open throughout. A grand unveiling is scheduled for Oct. 12.

Different departments will be relocated within the store as part of the renovation:

Erskine Bowles is beefing up his lengthy board of directors resume with a stint at Belk.

Bowles, who retired as president of the UNC system in January, was elected to the board of the Charlotte-based department store chain at its annual meeting today.

Bowles is also on the boards of Morgan Stanley, Cousins Properties and Norfolk Southern. The Greensboro native previously served on the boards of General Motors, N.C. Mutual, Merck, VF Corp., Wachovia and Krispy Kreme.

"His extensive service as a director of public companies provides him with a valuable depth of experience on a wide range of corporate governance issues," CEO Tim Belk said in a prepared statement.

While consumers may still be watching discretionary spending closely, Belk Inc. reported a strong 2011 fiscal year this afternoon.

The Charlotte-based department store chain said sales at stores open more than a year -- an important measure in the retail business -- were up 5.1 percent in th eyear ended Jan. 29, 2011. Net income for the year rose by 90.2 percent. And overall net sales rose 5 percent to 3.51 billion. Company chairman Tim Belk called it "an outstanding year."

The company credited better inventory management and strong sales, especially in the categories of shoes, cosmetics, men's and home. 2011 also marked the year when Belk revamped its corporate logo and introduced a new company tagline: "Modern. Southern. Style." Those changes were made in October.

Belk currently operates 305 stores in 16 southern states. It is the nation's largest privately owned department store chain.

Belk, Inc. will pay $55,000 to settle a lawsuit that stemmed from a Santa hat.

Belk was the subject of a lawsuit filed by the U.S. Equal Employment Opportunity Commission in July alledging that the Charlotte-based department store chain unlawfully fired Myra Jones-Abid after she refused to wear a Santa hat and apron during the 2008 holiday season because of her religious beliefs.

Jones-Abid worked in the gift wrapping department at the Belk store in Raleigh's Crabtree Valley Mall. Her religion, Jehovah's Witness, prohibits her from recognizing holidays. She therefore refused to wear the holiday attire while working.

In addition to paying the $55,000 to Jones-Abid, the settlement announced today requires Belk to provide annual training on religious discrimination to all of its managers and supervisors at the Crabtree Valley Mall store. Belk must also post a notice on employees' rights under federal anti-discrimination laws and provide periodic reports to the EEOC on actions taken in response to employees who have requested accommodations due to their religious beliefs.

Belk reported a third-quarter loss, as the Charlotte-based department-store chain spent millions on a re-branding effort.

Same-store sales during the quarter, an important measure of a retailer's health, rose 2.5 percent from a year earlier.

The $70 million branding campaign includes new signs, logo, advertising and  tagline: "Modern. Southern. Style." Belk officials are trying to revamp the chain's image to attract a wider base of customers.

The effort increased costs but "will boost performance over the long term," CEO Tim Belk said in a prepared statement.

The Belk department store chain is planning to expand a pilot program in which it monitors stores for shoplifters remotely from its Charlotte headquarters.

Security personnel in Charlotte watch shoppers and work with store managers if they spot some behaving supisciously or catch a theft on film.

Company spokesman Darrell Williams said the program is focused on providing more security in smaller stores that do not have dedicated loss prevention staffs. The program will be implemented in 49 stores including Zebulon this year. And, starting in February, Belk will expand the program to 26 more stores, including the one in Garner.

Several of the Triangle's most successful corporations also rank among the country's largest privately owned companies.

In Forbes latest annual list, which is based on annual revenue or estimated revenue, Quintiles of Durham comes in at No. 133 with $3 billion. Raleigh-based General Parts, owner of the Carquest Auto Parts chain, is No. 148 with $2.79 billion. And Cary-based SAS is No. 188 with $2.31 billion.

While such lists might seem irrelevant, they give companies exposure that can help win new customers and recruit new employees.

Forbes also has a profile of Quintiles founder and CEO Dennis Gillings. The story trace the history of how the UNC Chapel Hill professor, a "30-year-old Brit with longish hair and bushy sideburns," got the idea of handling clinical drug research for big pharmaceutical companies in 1975, founded Quintiles in 1982 and expanded it to become the world's largest contract research organization.

Belk has named a woman who is not part of the Belk family as its new president and chief merchandising officer.

Kathryn Bufano is succeeding McKay Belk, who left the position a year ago to go on sabbatical for ministry-related activities, according to the company.

McKay Belk is moving into his previously announced new role as vice chairman and "will continue to provide the company advice and counsel on merchandising and vendor relations," the Charlotte-based department store chain said.

His brothers continue in their executive roles with the privately held company — Tim Belk as chairman and CEO, and Johnny Belk as president and chief operating officer. (Both Bufano and Johnny Belk will hold the president's title.)

For more details on Bufano's move, see the Charlotte Observer's story here.