Bon-Ton net loss widens
Staff Staff -- Home Textiles Today, May 17, 2012
York, Pa. - The Bon-Ton Stores is re-evaluating its assortments as it seeks to turn around the business.
Brendan Hoffman, who joined the company 90 days ago as president and ceo, said during the company's quarterly conference call today that Bon-Ton needs to attract modern shoppers without alienating its core customer - who is traditional and moderate.
At present, most of that effort revolves around women's apparel. There was no mention of the home department during the call.
The company's net loss for the quarter ended April 28 widened to $40.8 million, or $2.23 per share, from a net loss of $36.0 million, or $2.01 per share in the year-ago quarter. Sales slipped 1.4% to $640.8 million, with comps down 1.3%.