Bon-Ton Reports 1Q Results

Bon-Ton Reports 1Q Results
June 03, 2008

York, Pa.-based The Bon-Ton Stores Inc. reported a net loss of $34.1 million for the first quarter ending May 3, 2008, compared to a loss of $29.3 million for the same time period last year. Total sales were $700.2 million, a 5.1 percent decline, versus $737.6 million; while comparable-store sales declined 4.6 percent. Gross margin dropped $9.1 million to 34 percent of net sales, compared to 33.5 percent last year. "Our financial results continue to be impacted by the macro-economic environment," said Bud Bergren, president and CEO of The Bon-Ton. "We successfully reduced our comparable-store inventories by 8.7 percent as compared to the prior period, which resulted in an improvement in our gross margin rate." The company operates 280 stores in 23 states.

Produced by: Nielsen Business Media, a part of the Nielsen Company
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