Bon-Ton to close at least 40 stores

Bon-Ton to close at least 40 stores

The announcement that the company, co-headquartered in York County and Milwaukee, would close at least 40 of its 260 stores next year was made in a statement by Bon-Ton president and chief executive officer William Tracy. The specific stores that will be closed was not disclosed. It operates approximately 270 stores in over 26 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates, encompassing a total of approximately 25 million square feet.

There are now Younkers stores in Marquette Township and Marinette, Wis.

The company is trading up by 3.31% since yesterday's close of 0.45. Closing at least 40 stores through 2018 will help the chain reduce capital expenses and invest more in remaining stores, which should drive sales growth, he said.

COPYRIGHT VIOLATION WARNING: "The Bon-Ton Stores, Inc".


The company reported a net loss of $44.9 million, or $2.19 per share, in the quarter, compared with a net loss of $31.6 million, or $1.58 per share, in the same quarter a year ago. The value of the investment in BONT went from $7,000 to $6,000 a change of 14.3% quarter over quarter. The business had revenue of $525.46 million during the quarter.

That includes a focused marketing strategy and shrinking its overall store footprint.

Tracy expressed optimism about the upcoming holiday season, and said the comparable store sales are beginning to turn positive.

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