The Bon-Ton Stores, Inc. sales for the four weeks ended May 5, 2007 decreased 13.7%, to $211.9 million, compared to $245.6 million for the prior year period. Bon-Ton and Carson's combined comparable store sales for the four weeks decreased 13.4%. Bon-Ton comparable store sales for the four weeks decreased 15.8% compared to the prior year period. Carson's comparable store sales, which are not included in Bon-Ton's reported comparable store sales, decreased 12.2%.
For the first quarter of fiscal 2007, total sales increased 31.3% to $737.6 million compared to $561.8 million for the same period last year. The first quarter of fiscal 2007 sales include Carson's stores sales of $476.9 million for the period ended May 5, 2007. Year-to-date Bon-Ton comparable store sales decreased 2.5% and year-to-date Carson's comparable store sales decreased 0.8%.
Anthony J. Buccina, Vice Chairman and President – Merchandising, commented, “Our April sales were disappointing, particularly in our apparel categories. The decrease in sales reflects very difficult weather patterns in the Northeast and Midwest, which experienced the coldest April in ten years, as well as the earlier Easter holiday. Business did improve during the third weekend as the weather became more seasonal and this trend continued into the fourth week. However, this improvement did not offset the sales decreases experienced in the beginning of the month.”
Mr. Buccina continued, “Due to the sales results in the first quarter, we are taking the necessary markdowns on our seasonal assortments to ensure that we continue to provide our customers with fresh merchandise. We believe that we are well-positioned for summer business. That said, we will closely monitor the Company's sales performance in May as well as the retail environment and will manage our inventory levels accordingly.”
