Goldman Sachs Group Inc. to help it evaluate strategic alternatives, including a potential sale, the people said.
Major department stores, such as Macy’s Inc. and Nordstrom Inc., as well as large private equity firms are expected to be contacted by Belk to solicit their interest in a deal, the people added.
Belk is projected to have annual earnings before interest, tax, depreciation and amortization this year of around $400 million, one of the people said.