The Bon-Ton Stores, Inc. said comparable store sales for the five weeks ended October 3, decreased 4.8%. Total sales decreased 5.5% to $282.9 million compared with $299.4 million for the prior year period.
Year-to-date comparable store sales for the department store chain, based in York, PA, decreased 8.1%. Year-to-date total sales decreased 7.8% to $1,733.7 million compared with $1,880.1 million for the same period last year.
Tony Buccina, vice chairman and president Merchandising, commented, “We are very pleased with our September sales results, which again exceeded our plan, and are encouraged by the improvement in our sales trend compared with the spring season. Ready-to-wear, which includes moderate missy, petites and large-size sportswear, led the sales performance, along with coats and accessories. Our weakest performing businesses were home and furniture. We entered October with inventories fresher than in the prior year, comparable store inventories down 8.7% and clearance inventories down 22%. We believe we are strongly positioned for the holiday shopping season.”
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “We ended the month with excess borrowing capacity under our revolving credit facility of approximately $169 million.”
The Bon-Ton Stores, Inc. operates 279 stores, including 12 furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger’s and Younkers nameplates and, in the Detroit, Michigan area, under the Parisian nameplate.
