Bon-Ton Stores Inc.(BONT) an operator of department stores, Thursday reported narrower loss for the first quarter helped by higher revenue and lower expenses. Loss per share beat analyst estimates. The company further backed its full-year earnings guidance.
For the quarter, the firm posted net loss of $26.63 million, narrower than prior-year net loss of $40.78 million. On a per share basis loss was $1.41 compared with $2.23 loss last year.
Four analysts on average polled by Thomson Reuters estimated loss per share of $1.57 for the quarter. Analyst estimates typically exclude one-time items.
Revenue for the period climbed to $646.9 million from $640.77 million last year. Analysts were looking for revenue of $665.23 million.
Looking forward, Bon-Ton said it continues to see full-year earnings per share in the range of $0.40 to $1.00. The Street is currently looking for earnings per share of $0.74 for the full-year.
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