YORK, Pa., Jan. 11, 2017 (GLOBE NEWSWIRE) -- The Bon-Ton Stores, Inc. (NASDAQ: BONT ) today announced that its comparable store sales for the nine-week holiday period ended December 31, 2016 decreased 3.1%, in line with guidance provided on November 17, 2016. Total sales for the nine week November and December period were $752.1 million compared to sales of $784.4 million in the prior year period.
Kathryn Bufano, President and Chief Executive Officer, commented, “Following challenging sales trends in the first three weeks of November, business improved from Thanksgiving through the end of December. During the holiday season, we continued to deliver double digit growth in our omnichannel business, including mobile demand. Our best performing categories during the holiday season were men’s big and tall, furniture, women’s outerwear, and intimate apparel.”
Ms. Bufano added, “We are pleased to see the traction we are gaining on our merchandising initiatives despite weak mall traffic trends. Our focus remains on executing against our strategic initiatives, while prudently managing inventory levels and expenses. Based on these sales trends and our expectations for the remainder of the quarter, we are maintaining our full-year guidance provided on November 17, 2016; however, we expect to be at the low end of the range.”
The company will provide additional details on March 14, 2017 when it reports its results for the fourth quarter and fiscal 2016 periods ending January 28, 2017.
About The Bon-Ton Stores, Inc. The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 266 stores, which includes nine furniture galleries and four clearance centers, in 26 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 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 .
Cautionary Note Regarding Forward-Looking Statements Certain information included in this press release contains statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which may be identified by words such as “may,” “could,” “will,” “plan,” “expect,” “anticipate,” “believe,” “estimate,” “project,” “intend” or other similar expressions and include the Company’s fiscal 2016 guidance, involve important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. Factors that could cause such differences include, but are not limited to: risks related to retail businesses generally; a significant and prolonged deterioration of general economic conditions which could negatively impact the Company in a number of ways, including the potential write-down of the current valuation of intangible assets and deferred taxes; risks related to the Company’s proprietary credit card program; potential increases in pension obligations; consumer spending patterns, debt levels, and the availability and cost of consumer credit; additional competition from existing and new competitors or changes in the competitive environment; inflation; deflation; changes in the costs of fuel and other energy and transportation costs; weather conditions that could negatively impact sales; uncertainties associated with expanding or remodeling existing stores; the ability to attract and retain qualified management; the dependence upon relationships with vendors and their factors; a data security breach or system failure; the ability to reduce or control SG&A expenses, including initiatives to reduce expenses and improve efficiency; operational disruptions; unsuccessful marketing initiatives; the ability to expand our capacity and improve efficiency through our new eCommerce fulfillment center; changes in, or the failure to successfully implement, our key strategies, including initiatives to improve our merchandising, marketing and operations; adverse outcomes in litigation; the incurrence of unplanned capital expenditures; the ability to obtain financing for working capital, capital expenditures and general corporate purposes; the impact of regulatory requirements including the Health Care Reform Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act; the inability or limitations on the Company’s ability to favorably adjust the valuation allowance on deferred tax assets; and the financial condition of mall operators. Additional factors that could cause the Company’s actual results to differ from those contained in these forward-looking statements are discussed in greater detail under Item 1A of the Company’s Form 10-K filed with the Securities and Exchange Commission.
CONTACT: Wendy Wilson Vice President Investor Relations 414-347-5153 wendy.wilson@bonton.com
