follow us

Bon-Ton affirms guidance despite loss

York,Pa.– After better-than-expected performance in February and March, April’s weather woes set back first-quarter results at the Bon-Ton Stores, executives said during a conference call with analysts this morning.

For the quarter ended May 5, Bon-Ton reported a net loss of $29.3, or $1.78 per share, compared to a net loss of $10.8 million, or 66 cents per share, during last year’s first quarter.

Following last year’s acquisition of Carson ’s, sales climbed 31.3% to $737.6 million. Carson ’s contributed $476.9 million to the total, with other income ringing in at $22.6 million.

President and ceo Bud Bergren noted that the first quarter is historically a clearance-driven period with low margins. “I would like to reiterate what we said a year ago -- the integration of the Carson 's and Bon-Ton is a two-year process. We will not have a 'normalized' year until 2008,” he said.

Sales have improved in May, and Bon-Ton execs expect the fiscal year performance to fall in the lower end of the range of its earlier guidance: earnings per share of $3.40 to $3.50 and EBITDA of $315 to $320 million."

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today