The Bon-Ton Stores announced total sales for the four weeks ended January 31, 2004, increased 78.1% to $57.1 million, including $26.5 million from the acquired Elder-Beerman stores, compared to $32.0 million for the same period last year. Bon-Ton comparable store sales
decreased 5.0%.
For the fourth quarter, total sales increased 87.1% to $451.4
million, including $214.4 million from the acquired Elder-Beerman
stores, compared to $241.3 million reported in the comparable last
year period. Fourth quarter Bon-Ton comparable store sales decreased
1.9%.
Year-to-date total sales increased 29.8% to $926.1 million,
including $229.7 million from the Elder-Beerman stores acquired on
October 24, 2003, compared to $713.2 million for the same period last
year. Year-to-date Bon-Ton comparable store sales decreased 2.0%.
Elder-Beerman sales are not included in the Company's reported
comparable store sales. For informational purposes only, Elder-Beerman
comparable store sales for the four weeks ended January 31, 2004
decreased 3.8%, for the thirteen weeks ended January 31, 2004
decreased 0.2% and for the twelve months ended January 31, 2004
decreased 2.5%.
James H. Baireuther, vice chairman and chief administrative
officer, commented, “We anticipated January sales would be challenging
given the 8.9% increase in comparable store sales we reported last
year, nonetheless, we were disappointed. Adverse weather conditions in
the midwest and northeast negatively impacted this month's sales
results. Categories with sales increases in January were shoes,
cosmetics and accessories. Inventory levels remain on plan as we
transition into spring merchandise. We are focused on integrating the
Elder-Beerman stores and realizing the economies of scale and
synergies that are inherent in the acquisition.
