Bon-Ton propelled by online sales
Bon-Ton Stores Inc. cited growth in the e-commerce channel as among the reasons forthe company's slight increase in same store sales in the first quarter.
Total sales for the first quarter ended May 2 inched up to $610.9 million from $607.5 million, while same-store sales increased 0.8%.Net loss widened to $34.1 million in the first quarter of fiscal 2015, from $31.5 million in the same quarter the prior year. E-commerce sales increased at a double-digit rate due to a higher conversion rate.
“As we move ahead, we remain focused on our initiatives — building a compelling assortment, refocusing our brand, furthering our omnichannel capabilities and maximizing operating efficiency — all designed to drive top-line and EBITDA growth,” said Kathryn Bufano, president and CEO of Bon-Ton.”
Bon-Ton plans to open a new 743,000-sq.-ft. e-commerce fulfillment center in West Jefferson, Ohio, in the fall. The center was originally scheduled to open this spring.
Same-store sales are expected to grow 2% to 2.5% in fiscal 2015.
Bon-Ton operates 270 stores, including nine furniture galleries and four clearance centers, in 26 states. In addition to Boston Store and Younkers, its store names include Bon-Ton, Bergner's, Carson's, Elder-Beerman and Herberger's.