This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Bon-Ton Stores, Inc. Announces First Quarter Of Fiscal 2012 Results

The Bon-Ton Stores, Inc. (NASDAQ: BONT) today reported results for the first quarter of fiscal 2012 ended April 28, 2012.

First Quarter Highlights
  • Comparable store sales decreased 1.3%.
  • Gross margin rate was 34.3% of net sales compared with 35.5% in the first quarter of fiscal 2011.
  • Operating loss totaled $18.5 million, compared with an operating loss of $2.5 million in the first quarter of fiscal 2011.
  • EBITDA was $4.8 million, compared with $23.2 million in the first quarter of fiscal 2011. EBITDA is not a measure recognized under generally accepted accounting principles (see Note 1).
  • Net loss totaled $40.8 million, or $2.23 per diluted share, compared with a net loss of $36.0 million, or $2.01 per diluted share, for the first quarter of fiscal 2011. The first quarter of fiscal 2012 includes a net gain of $1.9 million, or $0.10 per diluted share, related to the Company’s sale of certain Rochester, NY locations and subsequent prepayment penalty on the extinguishment of its related mortgage debt. The first quarter of fiscal 2012 also reflects a charge of $2.8 million, or $0.15 per diluted share, for severance costs related to targeted reductions to the Company’s cost structure. The first quarter of fiscal 2011 includes a charge of $9.5 million, or $0.53 per diluted share, associated with the voluntary prepayment of the Company’s second lien term loan and the refinancing of its revolving credit facility.


Brendan Hoffman, President and Chief Executive Officer, commented, “Sales from the shift of our Community Day event from February to the end of April exceeded the prior year, but we believe it had an overall negative impact on April sales leading up to the event. We responded quickly with aggressive markdowns, and liquidated a higher level of transitional and carry-over inventory, resulting in gross margin erosion. As we look ahead, we are identifying and implementing initiatives which we believe will lead to improved performance. These initiatives include continued evaluation of and adjustment to our merchandise assortment, reallocation of floor space to higher growth categories, greater focus on smaller markets, enhancements to our marketing programs, growth of profitable sales in eCommerce and changes to our operating structure.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs