Bon-Ton Finishes Strong on 4th Quarter Sales
York-based Bon-Ton reports fourth quarter sales and figures for January.
The Bon-Ton Stores Inc. has announced sales for the five, 14 and 53 weeks ended Feb. 2, in accordance with the National Retail Federation fiscal reporting calendar.
The comparable percentage change information presented below is based upon comparison of the four, 13 and 52f weeks ended Jan. 26, with the prior year corresponding periods ended Jan. 28.
Comparable store sales in the four weeks ended January 26, 2013 decreased 0.4%, compared with the four-week period last year for the Bon-Ton, which has a store in the Palmer Park Mall.
Total sales for the five weeks ended February 2, 2013 increased 15.2% to $200.8 million, compared with $174.4 million in the four-week period last year.
For the fourth quarter of fiscal 2012, comparable stores sales in the 13 weeks ended Jan. 26, 2013 increased 1.0%, compared with the thirteen-week period last year. Total sales in the fourteen weeks ended February 2, 2013 increased 3.2% to $1,015.1 million, compared with $983.2 million in the thirteen-week period last year.
Fiscal 2012 comparable store sales in the fifty-two weeks ended January 26, 2013 increased 0.5%, compared with the fifty-two week period last year. Fiscal 2012 total sales for the fifty-three weeks ended February 2, 2013 increased 1.2% to $2,919.4 million, compared with $2,884.7 million in the fifty-two week period last year.
Brendan Hoffman, President and Chief Executive Officer, commented, “Throughout January and the fourth quarter, we strategically managed our inventory to drive more profitable sales and reduce the level of clearance inventory; this approach should benefit our fourth quarter gross margin. We will continue with this strategy as we enter the new fiscal year.”
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “We are tightening our full-year fiscal 2012 guidance to reflect Adjusted EBITDA (see Note 1) in a range of $160 million to $175 million and loss per share in a range of $(1.35) to $(0.60).”
Mr. Plowman continued, “Our excess borrowing capacity under our revolving credit facility was approximately $518 million at the end of fiscal 2012.”
The Company will discontinue monthly sales reporting effective in February of fiscal 2013. This will align the Company's sales reporting with most of its public company competitors and other specialty apparel retailers.
The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 271 department stores, which includes 11 furniture galleries, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates.
The department stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.