THE BON-TON STORES REVISES THIRD QUARTER ESTIMATES
THE BON-TON STORES REVISES THIRD QUARTER ESTIMATES YORK, Pa., Sept. 23 /PRNewswire/ -- The Bon-Ton Stores, Inc.
(NASDAQ: BONT), the York, Pa. based regional fashion department store chain today announced that its results for the third quarter ending Oct. 31, 1992 will be below analysts' expectations and are likely amount to a loss of $0.12 to $0.18 per share. Mike Gleim, senior executive vice president and chief administrative officer stated, "During the current quarter, we are continuing our very aggressive mark-down policies in order to clear out excess aged inventory, resulting in further pressure on gross margins. In addition, sales have been sluggish in the back-to- school season."
The Bon-Ton operates 34 department stores in secondary markets in Pennsylvania, Maryland, New York and West Virginia. The stores carry broad assortments of brand-name fashions and accessories for women, men and children, as well as home furnishings. -0- 9/23/92 /CONTACT: Naomi Rosenfeld or Amy Ludwig of Morgen-Walke Associates, Inc., 212-986-5900, for Bon-Ton Stores/ (BONT) CO: Bon-Ton Stores, Inc. ST: Pennsylvania IN: REA SU: ERP
TM-AH -- NY004 -- 2496 09/23/92 09:05 EDT
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|Date:||Sep 23, 1992|
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