Bon-Ton expects weaker FY results

YORK, Pa. The Bon-Ton Stores announced that based on fall season sales trends and continued expectations for a soft holiday season, it believes its full-year fiscal 2008 financial results will be at the low end of the previously stated guidance range. Guidance provided on Aug. 20 for fiscal 2008 diluted earnings per share was in a range of (45 cents) to (95 cents) excluding the write-off of goodwill, and $(1.17) to $(1.67) including the write-off of goodwill. Guidance for EBITDA was in the range of $200 to $213 million.

Keith Plowman, evp and cfo, commented, “Given the current economic environment, we expect sales trends to remain soft and margins to be pressured by increasing promotional activity. Therefore, we are guiding to the low end of our guidance range for fiscal 2008. We will continue to closely monitor our sales and the consumer’s reaction to the developing macroeconomic environment.”