The Bon-Ton Stores, Inc. Announces October Sales.
Carson's Comparable Store Sales increased 0.8% for the Month
YORK, Pa. -- The Bon-Ton Stores, Inc. (NASDAQ: BONT) today announced total sales for the four weeks ended October 28, 2006 increased 164% to $249.7 million compared to $94.7 million for the same period last year. October sales include $165.9 million from the Carson's stores. Bon-Ton comparable store sales decreased 9.7%.
For the third quarter of fiscal 2006, total sales increased 182% to $804.1 million compared to $285.7 million for the same period last year. Third quarter sales include $537.5 million from the Carson's stores. Bon-Ton comparable store sales decreased 4.8%.
Year-to-date total sales increased 157% to $2,112.7 million compared to $822.6 million for the same period last year. Year-to-date sales include $1,313.4 million from the Carson's stores for the period March 5, 2006 through October 28, 2006. Year-to-date Bon-Ton comparable store sales decreased 1.0%.
Carson's sales are not included in the Company's reported comparable store sales, therefore the following is provided for informational purposes only. Carson's comparable store sales for the four weeks ended October 28, 2006 increased 0.8%, for the thirteen weeks ended October 28, 2006 increased 7.8% and for the period March 5, 2006 through October 28, 2006 increased 4.3%. For Carson's and Bon-Ton combined, comparable store sales for the four weeks ended October 28, 2006 decreased 3.0% and for the thirteen weeks ended October 28, 2006 increased 3.3%.
Anthony J. Buccina, Vice Chairman and President - Merchandising, commented, "Although October sales results did not meet our expectations, we are pleased with the third quarter combined results which reflect a 3.3% sales growth. Being less promotional than last year in the Bon-Ton/Elder-Beerman stores resulted in fewer sales than planned. Carson's sales were weak in the first week of the month, but sales improved during the subsequent weeks to drive a low single digit comparable store sales increase. Bon-Ton's sales results were also negatively impacted by a snow storm in the Buffalo market that closed stores for a number of days. We remain confident with our merchandising and marketing strategy for the fourth quarter."
Mr. Buccina continued, "Best performing businesses were ladies' and men's outerwear, juniors, better sportswear, children's, furniture, ladies' and men's cold weather accessories and hard home. We experienced weaker sales performance in soft home, cosmetics and dresses."
The Bon-Ton Stores, Inc. operates 275 department stores and seven furniture galleries in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younkers nameplates and, under the Parisian nameplate, one store in each of Indianapolis, Indiana and Dayton, Ohio and two stores in the Detroit, Michigan area. The stores offer a broad assortment of brand-name fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company's website at www.bonton.com/investor/home.asp.
Statements made in this press release, other than statements of historical information are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Factors that could cause such differences include, but are not limited to, risks related to retail businesses generally, additional competition from existing and new competitors, uncertainties associated with opening new stores or expanding or remodeling existing stores, risks related to the Company's integration of the business and operations comprising the recently-acquired Carson's and Parisian stores, the ability to attract and retain qualified management, the dependence upon key vendor relationships and the ability to obtain financing for working capital, capital expenditures and general corporate purposes. Additional factors that could cause the Company's actual results to differ from those contained in these forward-looking statements are discussed in greater detail in the Company's periodic reports filed with the Securities and Exchange Commission.
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|Date:||Nov 2, 2006|
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