Bon-Ton (BONT) Announces 1.4% Increase in Comps for June
Tweet
Share
E-mailGet Alerts BONT Hot Sheet
Join SI Premium – FREE
The Bon-Ton Stores, Inc. (Nasdaq: BONT) today announced comparable store sales for the five weeks ended July 3, 2010 increased 1.4%. Total sales for the five weeks increased 1.2% to $244.4 million compared with $241.5 million for the prior year period.
Year-to-date comparable store sales increased 1.9%. Year-to-date total sales increased 1.6% to $1,092.4 million compared with $1,075.0 million for the same period last year.
Tony Buccina, Vice Chairman and President – Merchandising, commented, “We were pleased with our June sales results, which met our expectations. Our best performing categories for the month were moderate, better and petite sportswear, dresses and intimate apparel. The weakest performing categories were juniors, home and men’s. Our comparable store inventories were down 2.4% and our comparable store clearance inventories were reduced by 5.9% from the prior year, reflecting continued inventory control and a fresh merchandise assortment. We are on schedule to receive back-to-school and transitional fall merchandise, along with new home assortments for our July semi-annual Home Sale.”
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “We ended June with excess borrowing capacity under our revolving credit facility of approximately $428 million, well above the required minimum availability of $75 million.”
Year-to-date comparable store sales increased 1.9%. Year-to-date total sales increased 1.6% to $1,092.4 million compared with $1,075.0 million for the same period last year.
Tony Buccina, Vice Chairman and President – Merchandising, commented, “We were pleased with our June sales results, which met our expectations. Our best performing categories for the month were moderate, better and petite sportswear, dresses and intimate apparel. The weakest performing categories were juniors, home and men’s. Our comparable store inventories were down 2.4% and our comparable store clearance inventories were reduced by 5.9% from the prior year, reflecting continued inventory control and a fresh merchandise assortment. We are on schedule to receive back-to-school and transitional fall merchandise, along with new home assortments for our July semi-annual Home Sale.”
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “We ended June with excess borrowing capacity under our revolving credit facility of approximately $428 million, well above the required minimum availability of $75 million.”
You May Also Be Interested In
- Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
- Nanometrics (NANO) Issues Business Update, Reports FY23 Results
- Vincerx Pharma (VINC) Announces Proposed Share and Warrant Offering
Create E-mail Alert Related Categories
Retail SalesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
