The Bon-Ton Stores, Inc. reported comps during November fell 6.0%. Total sales for the four weeks decreased 6.4% to $310.8 million compared with $332.3 million for the prior year period.
Year-to-date comparable store sales decreased 6.8%. Year-to-date total sales decreased 6.7% to $2,268.6 million compared with $2,430.8 million for the same period last year.
Tony Buccina, vice chairman and president, merchandising, commented, “We achieved our November sales plan. Our best performing businesses were soft home, shoes, dresses/suits, moderate missy sportswear and accessories. Ecommerce sales performance remained strong, reflecting significant growth that will benefit December sales. November sales were negatively impacted by the warmer weather, as evidenced by a poor performance of outerwear. Sales trends in furniture and missy better sportswear continue to be unfavorable. November ending inventory was down 6.7% on a comparable store basis and clearance inventory was down 24%, which continue to benefit our margin. We enter December with fresher inventories than prior year and well positioned to achieve our sales and margin goals.”
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 $361 million, well above the required minimum availability of $75 million.”
The Bon-Ton Stores, Inc., with corporate offices in York, Pennsylvania and Milwaukee, Wisconsin, operates 278 stores, including 11 furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergnerâ€s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herbergerâ€s and Younkers nameplates and, in the Detroit, Michigan area, under the Parisian nameplate.
