Bon-Ton meets July expectations

YORK, Pa. Bon-Ton announced comparable-store sales for the four weeks ended Aug. 1 decreased 9.8% compared with the prior-year period. Total sales for the four weeks decreased 9.6% to $178.8 million compared with $197.9 million for the prior-year period.

Tony Buccina, vice chairman and president of merchandising, commented, “We delivered July sales results that met our expectations. With significantly less clearance inventory than the prior year, sales continued to be challenged, however, as in prior months, reduced clearance sales favorably impacted our gross margin rate. Furthermore, we were encouraged by the initial response to our fall merchandise offerings presented in our semi-annual home and furniture event and children’s back-to-school promotion. As a result of the success of these promotions, our best performing businesses in the month were furniture, home and children’s, followed by ladies’ moderate sportswear. Our weakest performing businesses were better ladies’ sportswear and men’s. Having ended the month with comparable store inventories down 5% from last year, we enter the fall season with fresh, well-focused inventories.”