The Bon-Ton Stores, Inc. said comparable store sales for the five weeks ended Oct. 2, 2010 increased 5.9%. Total sales for the five weeks increased 5.7% to $299.2 million compared with $282.9 million for the prior year period.
Year-to-date comparable store sales increased 1.6%. Year-to-date total sales increased 1.3% to $1.75 billion compared with $1.73 billion for the same period last year.
Tony Buccina, Vice Chairman and President Merchandising, commented, “We are pleased with our September sales performance; our 5.9% comparable store increase exceeded expectations. Clearance sales were down 9% and clearance inventories ended 15% below the prior year period. Our best performing businesses were home store including furniture, better missy sportswear, cosmetics, shoes, juniors, kids and accessories. The jewelry category grew significantly faster than total Company at all price points of fine, bridge, watches and costume. Our weaker performing businesses were coats and moderate missy sportswear. Ecommerce continues to post sales gains significantly above the total Company's sales growth. We are well positioned heading into the critical holiday season with inventory fresher than the prior year period and inventory investment strategically focused on the categories we believe will generate top line growth.”
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “We ended September with excess borrowing capacity under our revolving credit facility of approximately $443 million, well above the required minimum availability of $75 million.”
