The Bon-Ton Stores, Inc. comparable store sales for the five weeks ended Oct. 4, 2008 decreased 4.6% compared with the prior year period. Total sales for the five weeks decreased 2.7% to $299.4 million compared with $307.9 million for the prior year period.
Year-to-date comparable store sales decreased 5.7%. Year-to-date total sales decreased 5.2% to $1,880.1 million compared with $1,982.3 million for the same period last year.
Tony Buccina, vice chairman and president of merchandising, commented, “As the weather became more seasonal, categories such as outerwear, cold-weather accessories, boots and seasonal soft home posted strong results. Our best performing businesses were children’s, outerwear, cosmetics and shoes. Our weakest businesses were furniture, petites, better and moderate sportswear. We are pleased with the initial customer response to our new lines from Victor Alfaro, Evan Picone, Relativity Career and Kenneth Roberts. Having ended the month with comparable store inventories down 10% from the prior year, we enter the important holiday season with fresh, well-focused inventories, and are positioned to react to trends and best sellers.”
Keith Plowman, EVP and CFO, stated, “We ended September with excess borrowing capacity under our revolving credit facility of approximately $241 million, a slight increase from the end of August. We expect our excess borrowing capacity will continue to increase through the fall season.”
