US: Bon-Ton Stores prepares for possible FY loss
US department store retailer The Bon-Ton Stores has said it could swing to a full-year loss after unfavourable weather weighed on December comparable store sales.
The company adjusted its guidance to range from a loss per share of $0.30 to earnings per share of $0.15, compared to its earlier view of earnings per share of $0.15-0.75. Adjusted EBITDA is forecast to be $160-170m, down from $170-190m.
President and CEO Brendan Hoffman said: "We are disappointed with the deceleration in sales during December, particularly given the strong start to the holiday season beginning with Black Friday and extending through the early part of the month.
"Adverse weather and treacherous travel conditions in the majority of our markets resulted in a sharp reduction in traffic and hampered promotional events on key weekend selling dates leading up to and continuing after Christmas."
Despite the sales shortfall, Hoffman added, Bon-Ton ended the month with lower year-on-year inventory levels.
"We believe that we are heading in the right direction with our merchandise assortment and will continue to focus on executing our long-term initiatives while managing through a difficult retail environment."
Prolonged adverse weather conditions resulted in a financial performance that came in below expectations for US department store retailer The Bon-Ton Stores in its first-quarter....
The Bon-Ton Stores, Inc. (BONT) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compile...
- Impact of the TPP on the US textile industry?
- JC Penney emphasises new merchandising strategy
- Crystal Group nurtures its caring culture
- Cambodia's future outsourcing prospects uncertain
- Hazardous chemical removal a key industry issue
- Vietnam proposes 15% rise to regional minimum wage
- Cambodia garment workers “dying on the job”
- Avery Dennison forms JV with Ningbo Shenzhou
- Nike appointments to drive growth opportunities
- Accord and Alliance discord over inspections
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Textile Wholesaling in the UK - Industry Market Research Report
- Global market review of denim and jeanswear – forecasts to 2020
- Survey of the European Fabric Fairs: Spring/Summer 2015
- Prospects for the Textile and Clothing Industry in Turkey