The Bon-Ton Stores, Inc. Provides Holiday Sales and Fiscal 2016 Update
11 January 2017 - 11:30AM
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 StatementsCertain
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