The Bon-Ton Stores, Inc. announced comparable store sales for the four weeks ended November 1, 2003 decreased 7.0%. Total sales for October increased 18.4% to $69.7 million versus $58.9 million for the same period last year. For the third quarter, total sales increased 7.7% to
$180.4 million from $167.5 million in the prior year. Comparable store sales decreased 0.8%.
Year-to-date total sales increased 0.6% to $474.7 million from $471.9 million for the same period last year. Comparable store sales decreased 2.0%.
As a result of Bon-Ton's acquisition of Elder-Beerman, effective
October 24, 2003, total sales include $15.3 million from the
Elder-Beerman stores for the period from October 24, 2003 through
November 1, 2003. Comparable store sales do not include sales from the
Elder-Beerman stores. Consistent with prior reporting, comparable
store sales reflect stores open and owned for the entire current and
prior year periods.
James H. Baireuther, Vice Chairman and Chief Administrative
Officer, commented, “We anticipated October would be a challenging
month given the tough comparison to last year, but we were,
nonetheless, disappointed with our sales results. Just as September
sales were positively impacted by the arrival of seasonably cooler
weather, October sales were hindered by the unseasonably warm weather
at the end of the month. Areas with sales increases for the third
quarter included cosmetics, shoes, intimate, coats and home. The
retail environment remains very price competitive, therefore, our
promotional efforts will continue to reflect exceptional value in
order to meet our customer's needs.”
