Home / Knowledge / News / Apparel/Garments / Bon-Ton Q3 FY'13 comparable stores sales down 2.8%
Bon-Ton Q3 FY'13 comparable stores sales down 2.8%
22
Nov '13
The Bon-Ton Stores, Inc. reported operating results for the third quarter of fiscal 2013 ended November 2, 2013.

Third Quarter Highlights

-Comparable store sales decreased 2.8%.

-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% of net sales.

-Operating income improved by $5.0 million to $15.9 million, compared with operating income of $10.8 million in the third quarter of fiscal 2012.

-Adjusted EBITDA increased $4.4 million to $38.4 million, compared with $34.1 million in the third quarter of fiscal 2012. Adjusted EBITDA is not a measure recognized under generally accepted accounting principles (see Note 1).

-Net loss was reduced by $9.2 million to $0.9 million, or $0.05 per diluted share, compared with a net loss of $10.1 million, or $0.55 per diluted share, for the third quarter of fiscal 2012.

Brendan Hoffman, President and Chief Executive Officer, commented, "We saw meaningful improvement in our comparable store sales towards the end of the quarter. Additionally, due to strategic inventory reductions, we ended the quarter down approximately 5% on a comparable store basis. Reduced expenses contributed to 13% growth in Adjusted EBITDA which, together with lower interest expense, delivered an improved EPS. Strong performances in a number of key merchandise categories where we increased our investment lead us to believe that we are on track with our strategic initiatives. Our eCommerce business continues to grow at a healthy pace, benefiting from traffic-driving initiatives and our broader merchandise assortment."

Mr. Hoffman continued, "We are looking forward to the holiday selling season with a fresh and inspired merchandise assortment that offers our customers quality and value in an exciting shopping environment. Our marketing campaign is designed to entice shoppers into our stores and to our eCommerce site. We will continue to roll out our localization strategies to drive store productivity and we will maintain inventory management and cost controls as we execute this new strategy."

Year-to-date Highlights

-Comparable stores sales decreased 2.6%.

-Gross margin rate increased approximately 50 basis points to 36.1%, compared with 35.6% in the prior year period.

-Operating loss improved by $18.6 million to $6.7 million, compared with an operating loss of $25.3 million in the prior year period.

-Adjusted EBITDA increased $16.4 million to $62.4 million, compared with $46.0 million in the prior year period.

-Net loss improved by $31.1 million to $64.9 million, or $3.40 per diluted share, compared with a net loss of $96.0 million, or $5.20 per diluted share, for the prior year period.

Net Sales

Comparable store sales for the third quarter of fiscal 2013 decreased 2.8%. Total sales for the third quarter of fiscal 2013 decreased 2.6% to $651.2 million, compared with $668.7 million for the third quarter of fiscal 2012.

Click here to view full results

Bon-Ton Stores


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search