— The Bon-Ton Stores, Inc. announced it was lowering its
earnings guidance, despite a holiday season that saw
comparable store sales increase 5.3 percent for the
nine-weeks ending Jan. 3.
The company had total sales of $796.4 million in
November and December, an increase of 3.8 percent from
the previous year.
Present and CEO Kathryn Bugano said the company was
pleased with the performance, noting customers responded
well to both in-store and online offerings.”
“However, our strong sales performance was tempered by
the highly promotional sales environment,” she said,
adding the company had lowed its full-year adjusted
EBITDA guidance to a range of $140 million to $150
million, it previously was $150 million to $160 million.
The company also announced Executive Vice President and
Chief Financial Officer Keith E. Plowman plans to retire
Plowman and the company’s board of directors agreed upon
a a notice period of approximately six months followed
by an 18-month consulting arrangement.
The Bon-Ton Stores, Inc., with corporate headquarters in
York, Pennsylvania and Milwaukee, Wisconsin, operates
272 stores, which includes nine furniture galleries and
four clearance centers, in 26 states in the Northeast,
Midwest and upper Great Plains under the Bon-Ton,
Bergner's, Boston Store, Carson's, Elder-Beerman,
Herberger's and Younkers nameplates.