- Comparable store sales decreased 6.4%.
- Gross margin rate increased 100 basis points to 37.0%, compared with 36.0% in the second quarter of fiscal 2012.
- Operating loss improved by $2.2 million to $15.5 million, compared with an operating loss of $17.6 million in the second quarter of fiscal 2012.
- Adjusted EBITDA increased $1.6 million to $8.7 million, compared with $7.1 million in the second quarter of fiscal 2012. Adjusted EBITDA is not a measure recognized under generally accepted accounting principles (see Note 1).
- Net loss improved by $7.7 million to $37.3 million, or $1.95 per diluted share, compared with a net loss of $45.0 million, or $2.43 per diluted share, for the second quarter of fiscal 2012. The results for the second quarter of fiscal 2013 include a charge of $3.9 million, or $0.20 per diluted share, for fees and accelerated amortization of deferred fees related to the tender and redemption of the Company’s Senior Notes due 2014 and Second Lien Senior Secured Notes due 2017. The results for the second quarter of fiscal 2012 included a charge of $6.3 million, or $0.34 per diluted share, for fees associated with the exchange of certain of the Company’s Senior Notes due 2014 for Second Lien Senior Secured Notes due 2017.
The Bon-Ton Stores, Inc. Announces Second Quarter Of Fiscal 2013 Results
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