Tight control of expenses drove The Bon-Ton Stores Inc. to a loss that was far lower than expected in the third quarter despite a decline in revenues.
For the three months ended Nov. 2, the York, Pa.-based department store cut its net loss more than 90 percent to $931,000, or 5 cents a diluted share, versus analysts’ expectations, on average, for a loss of 29 cents. The year-ago loss was $10.1 million, or 55 cents.
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