The Bon-Ton Stores Inc., the struggling regional department store operator based in York, Pa., reported a net loss of $36.2 million, or $1.86 per diluted share for the second quarter ended Aug. 2, slightly less than its loss of $37.3 million, or $1.95 per share, for the second quarter of fiscal 2013. The second quarter of fiscal 2013 results included $3.9 million of debt extinguishment costs associated with certain senior notes.
Comparable store sales in the second quarter increased 1.6 percent.compared with the prior year period. Total sales in the second quarter of fiscal 2014 increased 1.1 percent to $563.5 million, compared with $557.1 million in the prior year period.
Adjusted earnings before interest, taxes, depreciation and amortization was $5.1 million, compared with $8.7 million in the year-ago quarter.
Brendan Hoffman, the outgoing president and chief executive officer, commented, "We were pleased that we achieved comparable store sales growth, particularly given the challenging promotional environment and continuation of soft traffic trends. Ecommerce delivered another strong quarter driven primarily by increased conversion. In addition, our proprietary credit card penetration increased to approximately 51 percent of total sales, further demonstrating the ongoing strength of our loyalty program. We continued to carefully manage our inventory, ending the quarter approximately flat on a comparable store basis as compared with the prior year period and positioning us well for the fall season."
Kathryn Bufano, formerly of Belk Inc., succeeds Hoffman next week.
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