The Bon-Ton Stores comparable store sales down 0.8 percent

REPORT_ The Bon-Ton Stores reported operating results for the third quarter of fiscal 2014, the 13-week period ended November 1, 2014 with comparable store sales decreasing 0.8 percent compared with the prior year period. Adjusted EBITDA was 28.4 million dollars in the third quarter of fiscal 2014, compared with 38.4 million dollars in the third quarter of fiscal 2013.

Net loss in the third quarter of fiscal 2014 was 11 million dollars, or 0.57 dollars per diluted share, compared with a net loss of 0.9 million dollars, or 0.05 dollars per diluted share, in the comparable prior year period.

Commenting on the results, Kathryn Bufano, President and Chief Executive Officer, said, “The quarter was disappointing in that we had solid momentum through mid-October, when traffic slowed and we saw unseasonably warm weather. While our subsequent performance did not meet our expectations, we did achieve numerous measurable successes that bode well for ongoing business. We drove double-digit sales growth in e-commerce, fueled by a meaningful increase in conversion.”

Total sales in the period decreased 1.3 percent to 642.7 million dollars, compared with 651.2 million dollars in the third quarter of fiscal 2013. Other income in the third quarter of fiscal 2014 was 16 million dollars, compared with 15.4 million dollars in the third quarter of fiscal 2013. Proprietary credit card sales, as a percentage of total sales, increased 146 basis points to 51.5 percent in the third quarter of fiscal 2014.