Bon-Ton sees Q1 sales uptick
May 14, 2013-- Home Textiles Today,
York, Pa. - The Bon-Ton Stores' first quarter sales rose 1.0% to $646.9 million, with comps up 1.2%.
The company is projecting adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $13 million to $15 million for the quarter. For the full year, Bon-Ton expects adjusted EBITDA of $180 million to $200 million.
"In spite of the weather, which we believe ultimately reduced our total and comparable store sales, this performance reflects ongoing sequential improvement in our comparable store sales trend. We also saw increased penetration of proprietary credit card sales due to concentrated efforts to drive this business," said Brendan Hoffman, president and ceo.
The company will report full quarterly results on May 23.