Bon Ton boosts net sales, lowers net loss
York, Pa. – The Bon Ton Stores, Inc. increased net sales and reduced its net loss during first quarter fiscal 2013. The retailer reported net sales of about $647 million, a 1% improvement from about $641 million a year earlier. Net loss equaled $26.6 million, as opposed to a net loss of $40.8 million in first quarter fiscal 2012. Same store sales increased 1.2%.
Brendan Hoffman, president and CEO of Bon Ton Stores, said the company is making “meaningful progress” on strategic initiatives and was able to increase same store sales despite inclement weather during the quarter. He cited several factors as positively impacting different areas of Bon Ton’s performance.
“Enhancements to our e-commerce business again yielded double-digit sales growth while we saw increased penetration of proprietary credit card sales due to concentrated efforts to drive this business,” said Hoffman.