Wednesday, The Bon-Ton Stores, Inc. (BONT), an operator of department stores, said comparable store sales for the month of September declined 4.6% compared to the same period last year.
Total sales for the five weeks ended October 4 declined 2.7% to $299.4 million from $307.9 million in the same period last year.
Year-to-date, total sales decreased 5.2% to $1.88 billion from $1.98 billion in the corresponding period last year. Year-to-date, comparable store sales declined 5.7%.
The York, Pennsylvania-headquartered company said as the weather became more seasonal, categories such as outerwear, cold-weather accessories, boots and seasonal soft home posted strong results and its weakest businesses were furniture, petites, better and moderate sportswear.
The company said it ended September with excess borrowing capacity under its revolving credit facility of about $241 million, a slight increase from the end of August. Bon-Ton expects excess borrowing capacity will continue to increase through the fall season.
BONT closed Tuesday's regular trading session at $2.25. The stock has traded between $2.25 and $25.24 during the past year.
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