The Charlotte Observer, N.C., Business Briefs Column.

By Rick Rothacker, The Charlotte Observer, N.C. Knight Ridder/Tribune Business News

Jun. 20--BELK QUARTERLY SALES RISE, BUT REVENUE FALLS: Department store chain Belk Inc. saw same-store sales rise 1.9 percent for the first quarter ended May 5, but net income at the Charlotte-based company decreased $8.2 million for the quarter over last year.

Sales were dogged by uncertain economic conditions and increased competitive pressures, said Chairman and Chief Executive Officer John Belk. With 209 stores in 13 states, Belk, Inc. is the nation's largest privately owned department store chain. Hermione Malone

FIRST UNION, WACHOVIA DEAL WINS FTC OK: First …