The Bon-Ton Stores, Inc. reported comparable store sales for the four weeks ended May 2, 2009 decreased 5.1% compared with the prior year period. Total sales for the four weeks decreased 4.7% to $199.4 million compared with $209.2 million for the prior year period.


For the first quarter of fiscal 2009, comparable store sales decreased 8.6%. Total sales for the first quarter of fiscal 2009 decreased 8.0% to $644.5 million compared with $700.2 million for the same period last year.


Tony Buccina, Vice Chairman and President – Merchandising, commented, “We were pleased with April sales results, which slightly exceeded our expectations. Disciplined inventory management resulted in a decrease in comparable store and clearance inventories of 11% and 16%, respectively; consequently, we are in a fresher inventory position as compared with the prior year. Our best performing businesses were children’s, hard home, cosmetics and ladies’ moderate sportswear. Our weakest performing businesses were furniture and men’s better sportswear.”


Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “We ended April with excess borrowing capacity under our revolving credit facility of $165 million, well above the required minimum availability of $75 million. As a reminder, this does not reflect the estimated $30 million tax refund, which is expected to be received in the second quarter of fiscal 2009.”