The Bon-Ton Stores, Inc. reported comparable store sales for the four weeks ended Oct. 30, 2010 decreased 4.2%. Total sales for the four weeks decreased 4.4% to $214.2 million compared with $224.0 million for the prior year period.
For the third quarter of fiscal 2010, comparable stores sales decreased 0.3%. Total sales for the thirteen weeks ended Oct. 30, 2010 decreased 0.5% to $700.5 million compared with $703.9 million for the prior year period.
Year-to-date comparable store sales increased 0.9%. Year-to-date total sales increased 0.7% to $1,970.5 million compared with $1,957.7 million for the same period last year.
Tony Buccina, vice chairman and president merchandising, commented, “Sales performance in the second half of October improved significantly as the weather turned more seasonal in our markets. Unseasonably warm weather in the month pressured demand for cold-weather merchandise; the weak performance of these categories resulted in the sales decrease for the month. By contrast, we experienced sales increases in dresses, shoes, cosmetics and better missy and better men’s sportswear. We are excited about the upcoming holiday shopping season; our inventories are fresh with outstanding new offerings and clearance 9% below the prior year period.”
Keith Plowman, EVP and CFO, stated, “We ended October with excess borrowing capacity under our revolving credit facility of approximately $462 million, well above the required minimum availability of $75 million.”
