The Bon-Ton Stores,
Inc. reported comparable store sales in the four weeks ended Nov. 24
decreased 0.1 percent. Total sales decreased 0.8 percent to $301.3 million in
the current year compared with $303.6 million in the prior year period.
Year-to-date comparable store sales increased 0.2 percent.
Year-to-date total sales were slightly above last year at $2,205.7 million,
compared with $2,205.1 million in the same period last year.
“Our sales gained momentum in the second half of November
after experiencing a negative impact from Hurricane Sandy earlier in the month.
We were pleased with the traffic for Black Friday. The overall results for
post-Thanksgiving were ahead of last year, led by record online orders which
will benefit December sales,” stated Brendan Hoffman, president and CEO of
Bon-Ton Stores, Inc. “Solid
performances were achieved in our ready-to-wear categories, which continued to
outperform total Company. We attribute this trend to an improved alignment of
traditional and updated merchandise, as well as the addition of key vendors to
our assortments this fall season. Other categories with solid results were fine
jewelry, cosmetics, accessories, men's and cold weather apparel. Our
inventories are well-positioned for what we believe will be a strong finish to
the holiday season.”
Executive Vice President and Chief Financial Officer Keith
Plowman added that the company’s excess borrowing capacity under its revolving
credit facility was approximately $354 million at the end of November.
The Bon-Ton Stores, Inc., with corporate headquarters in
York, PA and Milwaukee, WI, operates 273 department stores.
