The Bon-Ton Stores, Inc. Announces March Sales
* Reuters is not responsible for the content in this press release.
Comparable Store Sales Decreased 5.3% for the Month YORK, Pa.--(Business Wire)-- The Bon-Ton Stores, Inc. (NASDAQ: BONT) today announced comparable store sales for the five weeks ended April 5, 2008 decreased 5.3% compared to the prior year period. Total sales for the five weeks decreased 4.9 % to $274.0 million compared to $288.0 million for the prior year period. Year-to-date total sales decreased 6.6% to $491.0 million compared to $525.6 million for the same period last year. Year-to-date comparable store sales decreased 6.2%. Tony Buccina, Vice Chairman and President - Merchandising, commented, "Given the overall challenging retail environment, we were pleased with our March results. A strong promotional event in the last two weeks resulted in a positive finish to the month with solid gains in shoes, intimate apparel, accessories and men's furnishings. For the month, categories that performed well were cosmetics, hard home, furniture and missy outerwear. The weakest performing category was apparel - women's, men's and children's." Mr. Buccina continued, "We continue to manage our inventory levels; our total inventory, including clearance merchandise, is below the prior year. With more disciplined inventory control, we can better capitalize on new trends, resulting in fresh assortments with strong value for our customers." Keith Plowman, Executive Vice President and Chief Financial Officer, stated, "Our excess borrowing capacity under our credit facility was in excess of $300 million at the end of March, which is slightly above the March 2007 level." The Bon-Ton Stores, Inc. operates 280 stores, including eleven furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younkers nameplates and, under the Parisian nameplate, three stores in the Detroit, Michigan area. The stores offer a broad assortment of brand-name fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company's website at http://investors.bonton.com. Statements made in this press release, other than statements of historical information, are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Factors that could cause such differences include, but are not limited to, risks related to retail businesses generally, consumer spending patterns and debt levels, additional competition from existing and new competitors, inflation, changes in the costs of fuel and other energy and transportation costs, weather conditions that could negatively impact sales, uncertainties associated with opening new stores or expanding or remodeling existing stores, the ability to attract and retain qualified management, the dependence upon key vendor relationships and the ability to obtain financing for working capital, capital expenditures and general corporate purposes. Additional factors that could cause the Company's actual results to differ from those contained in these forward-looking statements are discussed in greater detail under Item 1A of the Company's Form 10-K filed with the Securities and Exchange Commission. The Bon-Ton Stores, Inc. Mary Kerr, 717-751-3071 Vice President Investor & Public Relations mkerr@bonton.com Copyright Business Wire 2008
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.


Follow Reuters