Store sales decrease 2.6% for The Bon-Ton Stores

Freeman Staff

Nov. 19, 2015

MILWAUKEE —Boston Store’s parent company, The Bon-Ton Stores, Inc., announced Thursday that during the third quarter its comparable store sales decreased 2.6 percent when compared to the same period in 2014.

Total sales during the third quarter decreased 3 percent to $623.4 million for The Bon-Ton Stores, compared with $642.7 million in the third quarter of fiscal 2014.  According to the company, sales were negatively affected by unseasonably warm weather and the continuation of soft traffic trends.

Net loss in the third quarter of fiscal 2015 was $34 million, or $1.72 per diluted share, compared with net loss of $11 million, or $0.57 per diluted share, in the third quarter of fiscal 2014, according to the company.

The Bon-Ton Stores also reported that it completed a $75 million accordion exercise on Aug. 28 and completed a second transaction of $80 million that cumulatively expanded its borrowing capabilities under its revolving credit facility by $155 million, bringing total revolving commitments to $830 million.

Despite the challenges, Kathryn Bufano, president and chief executive officer, said in a statement that “customers strongly responded to our expanded brand offerings and we also saw sustained momentum in certain core categories. Recognizing that the competitive environment is likely to continue, we remain focused on creating a differentiated and compelling product assortment and leveraging our home town strategy.”