The Bon-Ton Stores comparable store sales for the four
weeks ended November 29, 2003 decreased 0.7%. Total sales for November increased 91.1% to $141.2 million, including $67.6 million from the acquired Elder-Beerman stores, compared to $73.9 million for the same period last year.
Year-to-date total sales increased 12.8% to $615.9 million,
including $82.9 million from the acquired Elder-Beerman stores,
compared to $545.8 million for the same period last year. Comparable
store sales decreased 1.8%.
James H. Baireuther, Vice Chairman and Chief Administrative
Officer, commented, “Our November comparable store sales performance
did not meet our expectations. Although sales improved during the last
week in the month, we could not overcome the shortfall earlier in the
month. The retail environment remains extremely competitive and our
customer remains cautious, with price being a critical component of
their decision process. As a result, our promotional efforts will be
more aggressive throughout the remainder of the holiday shopping
period to provide our customer exceptional value as we focus on key
items and price points.”