The Bon-Ton Stores Inc., showing progress in its turnaround efforts, narrowed losses in the third quarter to $10.1 million, or 55 cents a diluted share, compared with $22 million, or $1.21 a share, for the third quarter of fiscal 2011.
Comparable-store sales increased 1.9 percent in the quarter ended Oct. 27, and the gross margin rate was 36.6 percent compared with 37.4 percent in the third quarter of fiscal 2011, though the rate improved as the quarter progressed. Operating income totaled $10.8 million, compared with operating income of $500,000 in last year’s third quarter.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"