The Bon-Ton Stores, Inc. today announced comparable store sales for the four weeks ended Jan. 28 decreased 3.5 percent. Total sales decreased 3.2 percent to $174.4 million for the four weeks compared with $180.1 million for the prior year period.
For the fourth quarter of fiscal 2011, comparable stores sales decreased 2.6 percent. Total sales for the thirteen weeks ended Jan. 28 decreased 2.7 percent to $983.2 million compared with $1,010.0 million for the prior year period.
Fiscal 2011 comparable store sales decreased 2.8 percent. Fiscal 2011 total sales decreased 3.2 percent to $2,884.7 million compared with $2,980.5 million for the same period last year.
“January sales were below expectations due to the continuation of the milder weather in our markets, which had an adverse impact on sales of cold-weather merchandise and comprised the majority of our sales shortfall,” said Vice Chairman and President of Merchandising Tony Buccina. “Our best performing business was home, which included furniture, due to the customers’ favorable response to our semi-annual home sale. Other businesses that performed well were cosmetics, shoes and fine jewelry. Our eCommerce sales increased significantly over the prior year period. We are pleased with the continued success of our strategic growth initiatives in our pilot stores, which outperformed total Company sales, particularly sales of updated merchandise in ladies’ and men’s apparel, shoes and handbags. We begin the new season with inventory fresher than the prior year.”
Buccina continued, “As a side note, February sales will be less than the prior year period due to a shift in a major sales event which will occur in April.”
Keith Plowman, executive vice president and chief financial officer, stated, “Our excess borrowing capacity under our credit facility was approximately $438 million at the end of January.”
The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 274 department stores, which includes 11 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.
