Department store retailer narrows loss

The Bon-Ton Stores reduced its loss in the second quarter amid fewer markdowns and inventory controls, but sales fell as mall traffic remained soft.



The retailer posted a loss of $38.7 million in the quarter ended July 30, compared with a net loss of $39.6 million in the year-ago period.



Total sales fell 2.4% to $542.4 million, compared with $555.4 million last year. Same-store sales were down 2.0%.



“We made progress on a number of our strategic initiatives during the second quarter, although the soft mall traffic trends continued to negatively impact our business,” said Kathryn Bufano, president and CEO. “Importantly, we delivered sales gains in our key growth categories and brands, and drove accelerated double digit growth in our omnichannel business, with a triple digit increase on our mobile site. In addition, we maintained careful inventory controls, as we reduced inventory by 6% with fewer markdowns. We also continued to make progress on our cost savings plan.”