US: Bon-Ton Stores widens Q1 loss
- Net loss widened to $36.0m from $23.5m
- Sales fell 1.7% to $649.9m
- Comparable store sales dropped 1.2%
Department store operator The Bon-Ton Stores Inc has widened its first quarter loss on lower sales, markdowns and debt-related charges.
The company recorded a $9.5n loss for the early repayment of a loan and setting up a new credit agreement.
“Our markets, which are located in northern states, experienced unseasonably cold and wet weather, which we believe negatively impacted sales of seasonal apparel,” explained CEO Bud Bergren.
“When we saw the seasonal apparel not selling at the projected rate, we responded by taking markdowns and making adjustments to our merchandise assortment to better align with customer preferences.
“The weather has recently become more seasonable, and we are pleased with our recent sales performance.”
The following is a general roundup of US apparel and shoe retailers' October 2011 sales results....
The following is a general roundup of US apparel and shoe chains' September 2011 sales results. ...
The following is a general roundup of US apparel and shoe chains' August 2011 sales results....
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