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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)