Department store operator Bon-Ton Stores has reported a slight increase in first-quarter sales, despite the impact of unfavourable weather conditions and cooler temperatures.

Total sales climbed 1% to US$646.9m from $640.8m in the same period last year, while comparable store sales rose 1.2%.

President and CEO Brendan Hoffman said: "We are pleased with our comparable store sales results in the first quarter, particularly in light of the unfavourable impact of winter storms, flooding and colder than normal temperatures throughout the quarter.

"In spite of the weather, which we believe ultimately reduced our total and comparable store sales, this performance reflects ongoing sequential improvement in our comparable store sales trend. We also saw increased penetration of proprietary credit card sales due to concentrated efforts to drive this business."

Bon-Ton Stores also reaffirmed its first-quarter adjusted EBITDA guidance to be in the range of $13-15m and full-year adjusted EBITDA to be in between $180m and $200m.

Show the press release

 

CORRECTING and REPLACING The Bon-Ton Stores, Inc. Announces First Quarter of Fiscal 2013 Sales and Adjusted EBITDA Guidance

Correction...by The Bon-Ton Stores, Inc.

YORK, Pa.--(BUSINESS WIRE)--Second graph, third sentence of release should read: The Company is providing Adjusted EBITDA (see Note 1) guidance for the first quarter of fiscal 2013 in a range of $13 million to $15 million and, as previously disclosed, full-year fiscal 2013 Adjusted EBITDA guidance in a range of $180 million to $200 million (sted: range of $13 million to $17 million).

The corrected release reads: 

THE BON-TON STORES, INC. ANNOUNCES FIRST QUARTER OF FISCAL 2013 SALES AND ADJUSTED EBITDA GUIDANCE

The Bon-Ton Stores, Inc. (NASDAQ: BONT) (the “Company”) is providing the following information prior to the Company’s customary earnings release for its fiscal first quarter.

Comparable store sales for the first quarter of fiscal 2013 increased 1.2% over the first quarter of fiscal 2012. Total sales increased 1.0% to $646.9 million, compared with $640.8 million for the first quarter of fiscal 2012. The Company is providing Adjusted EBITDA (see Note 1) guidance for the first quarter of fiscal 2013 in a range of $13 million to $15 million and, as previously disclosed, full-year fiscal 2013 Adjusted EBITDA guidance in a range of $180 million to $200 million.

Brendan Hoffman, President and Chief Executive Officer, commented, “We are pleased with our comparable store sales results in the first quarter, particularly in light of the unfavorable impact of winter storms, flooding and colder than normal temperatures throughout the quarter. In spite of the weather, which we believe ultimately reduced our total and comparable store sales, this performance reflects ongoing sequential improvement in our comparable store sales trend. We also saw increased penetration of proprietary credit card sales due to concentrated efforts to drive this business.”

The Company has not completed its normal quarter-end closing and review procedures and/or adjustments, and as such there can be no assurance that the Adjusted EBITDA guidance provide above will not differ from the final released results for the first quarter of fiscal 2013. This preliminary information should not be viewed as a substitute for full interim financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), could change materially and is not necessarily indicative of the final results to be achieved for the first quarter of fiscal 2013 or any future period.

Financial results for the first quarter of fiscal 2013 are scheduled to be released Thursday, May 23, 2013. The Company’s quarterly conference call to discuss the financial results will be broadcast live over the Internet on May 23, 2013 at 10:00 am eastern time. To access the call, please visit the investor relations section of the Company’s website at http://investors.bonton.com. An online archive of the broadcast will be available within one hour after the conclusion of the call.

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 272 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.

 

Original source: http://www.businesswire.com/news/home/20130513006479/en/CORRECTING-REPLACING-Bon-Ton-Stores-Announces-Quarter-Fiscal