Bon-Ton Oct. key revenue figure up 3.7 pct
YORK, Pa. (AP) — Bon-Ton Stores Inc. said Thursday that revenue at stores open at least a year gained 3.7 percent in October thanks to strong sales of dresses, shoes and ladies' and men's outerwear.
This metric is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.
Other categories that performed well during the month included men's sportswear and furnishings, cosmetics, accessories and ladies' and special sizes sportswear. The weakest categories were home, furniture and intimate apparel.
Online sales continued to show double-digit percentage increases.
Total revenue for the four weeks ended Oct. 27 climbed 3.7 percent to $199.1 million.
Third-quarter revenue at stores open at least a year rose 1.9 percent. Total revenue climbed 1.9 percent to $668.7 million.
Analysts surveyed by FactSet expect $668.1 million in revenue.
The company's stock added 58 cents, or 4.7 percent, to $12.84 in morning trading. The shares have traded in a 52-week range of $2.23 to $14.99.
Bon-Ton will report its third-quarter financial results Nov. 15.
For the year-to-date, revenue at stores open at least a year rose 0.3 percent while total revenue increased 0.2 percent to $1.9 billion.
Bon-Ton, which has corporate offices in York, Pa., and Milwaukee, runs 273 department stores, which includes 11 furniture galleries, in 24 states.