Bon-Ton November Sales Rebound from Hurricane Sandy.
Bon-Ton reports November sales basically even going into holiday shopping season.
The Bon-Ton Stores has announced comparable store sales in the four weeks ended Nov. 24 decreased 0.1 percent.
Total sales decreased 0.8 percent to $301.3 million in the current year compared with $303.6 million in the prior year period.
Bon-Ton has a store in the Palmer Park Mall.
Year-to-date comparable store sales increased 0.2 percent. Year-to-date total sales were slightly above last year at $2,205.7 million, compared with $2,205.1 million in the same period last year.
Brendan Hoffman, President and Chief Executive Officer, commented, "Our sales gained momentum in the second half of November after experiencing a negative impact from Hurricane Sandy earlier in the month. We were pleased with the traffic for Black Friday. The overall results for post-Thanksgiving were ahead of last year, led by record online orders which will benefit December sales. Solid performances were achieved in our ready-to-wear categories, which continued to outperform total Company. We attribute this trend to an improved alignment of traditional and updated merchandise, as well as the addition of key vendors to our assortments this fall season. Other categories with solid results were fine jewelry, cosmetics, accessories, men's and cold weather apparel. Our inventories are well-positioned for what we believe will be a strong finish to the holiday season."
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, "Our excess borrowing capacity under our revolving credit facility was approximately $354 million at the end of November."
The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 273 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 Pirie Scott, Elder-Beerman, Herberger’s and Younkers nameplates and, in the Detroit, Michigan area, under the Parisian nameplate.
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.