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Despite comps drop, Bon-Ton pleased with September performance

10/8/2009

YORK, Pa. Bon-Ton announced comparable-store sales for the five weeks ended Oct. 3 decreased 4.8% compared with the prior-year period. Total sales for the five weeks decreased 5.5% to $282.9 million compared with $299.4 million for the prior year period.

Year-to-date comparable store sales decreased 8.1%. Year-to-date total sales decreased 7.8% to $1.73 billion compared with $1.88 billion for the same period last year.

Tony Buccina, vice chairman and president merchandising, commented, “Ready-to-wear, which includes moderate missy, petites and large-size sportswear, led the sales performance, along with coats and accessories. Our weakest performing businesses were home and furniture. We entered October with inventories fresher than in the prior year, comparable store inventories down 8.7% and clearance inventories down 22%. We believe we are strongly positioned for the holiday shopping season.”

Keith Plowman, EVP and CFO, stated, “We ended the month with excess borrowing capacity under our revolving credit facility of approximately $169 million.”

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