Bon-Ton news and archive

Bon-Ton names Michael Culhane Chief Financial Officer

The Bon-Ton Stores has appointed Michael Culhane to the position of Executive Vice President, Chief Financial Officer of the company, effective immediately. The company said, Culhane will be responsible for accounting, treasury, tax, credit, investor relations, legal and internal audit. He succeeds Nancy Walsh, who is leaving the company...

Business

Bon-Ton amends credit facility to sail through the holiday season

Struggling retailer Bon-Ton has amended its 880 million dollars ABL Tranche A and Tranche A-1 credit facility, providing the company with immediate flexibility and substantial additional liquidity under its current credit facility, just before the crucial holiday season. In a press release, Nancy Walsh, Bon-Ton's Executive Vice President and...

Business

Bon-Ton hires Alix Partners to advise on turnaround plans

U.S. department store operator Bon-Ton has hired consulting firm AlixPartners to provide operational advice regarding its turnaround efforts. Meanwhile, PJT, a restructuring advisory firm, looks into the refinancing of the company’s debts. After global investment bank PJT drafted the preliminary plan for Bon-Ton to focus on refinancing its debt...

Design

The Bon-Ton Stores Q2 comparable stores sales up 1.6 percent

REPORT_ The Bon-Ton Stores said that its comparable store sales in the secondquarter of fiscal 2014 increased 1.6 percent compared with the prior year period. Adjusted EBITDA in the second quarter of fiscal 2014 was 5.1 million dollars, compared with 8.7 million dollars in the second quarter of fiscal 2013. Net loss in the second quarter was...

Design

The Bon-Ton Stores Q1 net sales decline 6.1 percent

REPORT_ The Bon-Ton Stores in its operating results for the firstquarter of fiscal 2014 ended May 3, 2014, also reaffirmed its earnings guidance for fiscal 2014. Total sales and comparable store sales decreased 6.1 percent and 5.8 percent, respectively, in the quarter. Adjusted EBITDA was 7.1 million dollars, compared with 15.2 million dollars...

Fashion

Bon-Ton comparable store sales down 4.2 percent in 2013

REPORT_ The Bon-Ton Stores reported operating results for the fourth quarter and fiscal 2013 ended February 1, 2014. For the year 2013, company’s comparable stores sales decreased 4.2 percent and gross margin rate increased to 36.2 percent, compared with 35.8 percent in the prior year. Comparable store sales in the fourth quarter decreased 7.3...

Design

Poor December sales compel Bon-Ton to revise full-year guidance

REPORT _ The Bon-Ton Stores has announced that its December comparable store sales results were significantly impacted by unfavorable winter weather conditions in its markets. Owing to the December results, company has revised its outlook for the fiscal year 2013 saying, its comparable store sales to decrease approximately 3.50 percent. “In...

Design

Bon-Ton Q3 sales fall 2.6 percent

REPORT_ Bon-Ton third quarter comparable store sales decreased 2.8 percent. Total sales for the third quarter of fiscal 2013 decreased 2.6 percent. Gross margin rate for the third quarter of fiscal 2013 was flat to the gross margin rate in the third quarter of fiscal 2012 at 36.6 percent of net sales. Reduced expenses contributed to 13 percent...

Design

Bon-Ton Q2 sales down 6.3 percent

REPORT_ For the second quarter of fiscal 2013 Bon-Ton gross margin rate increased 100 basis points to 37 percent compared with 36 percent in the second quarter of fiscal 2012. Comparable store sales for the second quarter of fiscal 2013 decreased 6.4 percent. Total sales for the second quarter of fiscal 2013 decreased 6.3 percent. Adjusted...

Fashion

Bon-Ton buys Saks stores

US retail group Bon-Ton Stores announced on Monday its agreement to the purchase of 142 stores from Saks Northern Department Store group for $1.1 billion (£622 million) in cash. This makes Bon-Ton one of the largest regional department store retailers in the US . The transaction is expected to be completed in the first fiscal quarter of 2006....