Bon-Ton hurt by interest cost of Saks buy
August 24, 2006,
York , Pa. -- Picking up the tab for its $1.1 billion acquisition of Saks Northern Department Store Group, Bon-Ton Stores Inc. reported a sharply widening second-quarter loss of $19.8 million, compared with a year-before deficit of $1.4 million.
Lifted by the buyout, Bon-Ton sales almost tripled, rising by 172.2% to $746.8 million from $274.3 million last year. Bon Ton same-store sales expanded by 4.6%.
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