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Bon-Ton business remains soft in June
12 Jul '08
1 min read
The Bon-Ton Stores Inc announced comparable store sales for the five weeks ended July 5, 2008 decreased 6.5% compared to the prior year period. Total sales for the five weeks decreased 6.6% to $261.2 million compared to $279.6 million for the prior year period.
Year-to-date comparable store sales decreased 6.0%. Year-to-date total sales decreased 6.1% to $1,175.8 million compared to $1,251.9 million for the same period last year.
Tony Buccina, Vice Chairman and President – Merchandising, commented, “June comparable store sales decreased as the overall business remained soft due to continued weakness in economic trends. Our best performing categories were children's, special size sportswear and cosmetics.
The weakest performing categories were home, dresses and men's furnishings. We continue to execute excellent inventory control, with comparable store inventory down approximately 10%. We look forward to the back-to-school season and our semi-annual July home sale, as well as the beginning of fall receipts from our new and exclusive brands in women's ready-to-wear apparel.”
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “Our excess borrowing capacity under our credit facility was approximately $282 million at the end of June 2008, remaining above the level for the comparable prior year period.”
Year-to-date comparable store sales decreased 6.0%. Year-to-date total sales decreased 6.1% to $1,175.8 million compared to $1,251.9 million for the same period last year.
Tony Buccina, Vice Chairman and President – Merchandising, commented, “June comparable store sales decreased as the overall business remained soft due to continued weakness in economic trends. Our best performing categories were children's, special size sportswear and cosmetics.
The weakest performing categories were home, dresses and men's furnishings. We continue to execute excellent inventory control, with comparable store inventory down approximately 10%. We look forward to the back-to-school season and our semi-annual July home sale, as well as the beginning of fall receipts from our new and exclusive brands in women's ready-to-wear apparel.”
Keith Plowman, Executive Vice President and Chief Financial Officer, stated, “Our excess borrowing capacity under our credit facility was approximately $282 million at the end of June 2008, remaining above the level for the comparable prior year period.”
Bon-Ton Stores Inc
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