Bon-Ton is looking ahead to the holiday selling season, and focusing its marketing efforts on driving shoppers not only to stores but also to its e-commerce site.
The company saw comparable store sales for the third quarter decrease 2.8%. But the company was able to narrow its loss to $0.9 million, or $0.05 per diluted share, from $10.1 million, or $0.55 per diluted share, for the third quarter of fiscal 2012.
“We saw meaningful improvement in our comparable store sales toward the end of the quarter. Additionally, due to strategic inventory reductions, we ended the quarter down approximately 5% on a comparable store basis,” said Brendan Hoffman, president and CEO. “Reduced expenses contributed to 13% growth in Adjusted EBITDA which, together with lower interest expense, delivered an improved EPS. Strong performances in a number of key merchandise categories where we increased our investment lead us to believe that we are on track with our strategic initiatives. Our e-commerce business continues to grow at a healthy pace, benefiting from traffic-driving initiatives and our broader merchandise assortment.”
The Bon-Ton Stores operates 273 department stores, which include 10 furniture galleries, in 25 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.