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 EBITDA grew by 23 percent. For the year as a whole the company expects comparable store sales to be in a range of a negative 2.5 percent to flat and the gross margin rate to be in a range of 36 percent to 36.2 percent.

Bon-Ton Stores is based in Pennsylvania. The stores offer apparel and accessories for women, men and children as well as cosmetics and home furnishings. Brendan Hoffman, President and Chief Executive Officer, commented, “We are disappointed in our second quarter sales performance. We believe overall sales weakness was in part attributable to the adverse impact of inclement weather and higher gas prices.”