The Bon-Ton Stores, Inc. announced that both total and comparable store sales decreased 2.2% for the four weeks ended October 29, 2005. Sales totaled $94.7 million compared to $96.9 million for the same period last year.
For the third quarter of fiscal 2005, total and comparable store sales decreased 4.1% to $285.7 million compared to $297.8 million for the same period last year.
Year-to-date total sales decreased 2.9% to $822.6 million compared to $847.1 million for the same period last year. Comparable store sales decreased 2.6%.
James H. Baireuther, vice chairman and chief administrative officer, commented, “Colder weather finally arrived and customers responded to our merchandise and promotions as evidenced by a strong sales performance in the fourth week of October. However, this was not enough to offset the weak sales results earlier in the month. Product categories which performed well were shoes, handbags, women's special size and misses career apparel, men's sportswear and intimate. We are focused on the all-important holiday shopping season.”
Mr. Baireuther continued, “We are revising our earnings guidance for fiscal 2005. During the first three quarters of this year, we have experienced a shortfall in sales. Concerns regarding the reported continuation in the lack of consumer confidence, rising interest rates and significantly increased gas prices and energy costs have prompted the company to adjust its expectations for customer spending during the holiday season. Therefore, the company is adjusting its earnings per share guidance to a range of $1.50 to $1.60 per share.”
