The Bon-Ton Stores Inc. said that although comparable-store sales fell for the nine weeks ended Dec. 31, it was in line with guidance provided in November.
The comps decline was 3.1 percent, with sales for the November and December weeks totaling $752.1 million, compared with $784.4 million in the same year-ago period.
Kathryn Bufano, president and chief executive officer, said, “Following challenging sales trends in the first three weeks of November, business improved from Thanksgiving through the end of December. During the holiday season, we continued to deliver double-digit growth in our omnichannel business, including mobile demand.”
Bufano said the best-performing categories over the holiday season were men’s big and tall, furniture, women’s outerwear and intimate apparel.
The ceo also said the company is “maintaining our full-year guidance provided on Nov. 17, 2016; however, we expect to be at the low-end of the range.”
At that time, the company said it expected a loss per diluted share at between $2.04 to $2.54, which takes into account a comps decline of between 2.5 percent to 3.5 percent. Bufano said the company is focused on executing against its strategic initiatives while also managing inventory levels and expenses. Sales trends and expectations for the remainder of the fourth quarter led the company to maintain its previously guidance forecasts.
Shares of Bon-Ton on Wednesday were trading up 0.9 percent to $1.33 at the market’s open.