Fashion retailer Bon-Ton Stores presents Oct sales results
05 Nov '05
2 min read
Leading quality fashion department store Bon-Ton Stores Inc announced total and comparable store sales for the four weeks ended October 29, 2005 decreased 2.2 percent to $94.7 million compared to $96.9 million for the same period last year. For the third quarter of fiscal 2005, total and comparable store sales decreased 4.1 percent to $285.7 million compared to $297.8 million for the same period last year. Year-to-date total sales decreased 2.9 percent to $822.6 million compared to $847.1 million for the same period last year. Comparable store sales decreased 2.6 percent.
James H Baireuther, Vice Chairman and Chief Administrative Officer, commented, 'Colder weather finally arrived and customers responded to their merchandise and promotions as evidenced by a strong sales performance in the fourth week of October. However, this was not enough to offset the weak sales results earlier in the month. Product categories which performed well were shoes, handbags, women's special size and misses career apparel, men's sportswear and intimate. They are focused on the all-important holiday shopping season.'
Baireuther continued, 'They are revising their earnings guidance for fiscal 2005. During the first three quarters of this year, they have experienced a shortfall in sales. Concerns regarding the reported continuation in the lack of consumer confidence, rising interest rates and significantly increased gas prices and energy costs have prompted the Company to adjust its expectations for customer spending during the holiday season. Therefore, the Company is adjusting its earnings per share guidance to a range of $1.50 to $1.60 per share.'