The red ink flowed for The Bon-Ton Stores Inc. and Stein Mart Inc. in the second quarter, but Stage Stores Inc. managed to hold up better with just a small decrease in profits.
At Bon-Ton, losses widened to $33.8 million, or $2.01 a share, as the company took a $12 million, or 72 cent a share, charge to write down the value of goodwill. The charge was prompted by a drop in the firm’s stock value and expectation the tough economy will impede a near-term recovery. The quarterly losses compared with losses of $15 million, or 91 cents, a year ago.
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)