Bon-Ton Stores' Loss Widens
May 24, 2011-- Home Textiles Today,
Bon-Ton's first quarter net loss expanded as it gross margin shrank during the first quarter.
Net loss for the period ended April 30 was $35.99 million, or $2.01 per share, compared to a net loss of $25.4 million, or $1.33 per share in the year-ago quarter. Gross margin fell to 35.5% of net sales from 37.4% in last year's 1Q.
Sales slipped 1.7% to $649.9 million, with comps down 1.2%.
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