Bon-Ton (BONT) Comps Down 10.2% in October; Revises Q3 Outlook
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The Bon-Ton Stores, Inc. (NASDAQ: BONT) reports total sales for the month of October were $192.0 million, down 10.4 percent from the same period last year. Same-store sales fell 10.2 percent.
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “Based on lower than expected sales in the third quarter and a more conservative outlook for the fourth quarter, we are revising our full-year fiscal 2011 guidance to reflect EBITDA to be $190 million to $210 million, earnings per diluted share to be $(0.65) to $0.25 and cash flow to be $25 million to $40 million. We will provide more detail on our fiscal 2011 outlook in our earnings press release on November 17.” The Street sees a third-quarter loss of 36 cents per share.
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “Based on lower than expected sales in the third quarter and a more conservative outlook for the fourth quarter, we are revising our full-year fiscal 2011 guidance to reflect EBITDA to be $190 million to $210 million, earnings per diluted share to be $(0.65) to $0.25 and cash flow to be $25 million to $40 million. We will provide more detail on our fiscal 2011 outlook in our earnings press release on November 17.” The Street sees a third-quarter loss of 36 cents per share.
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