The Bon-Ton Stores Inc. narrowed its loss in the second quarter to $33.2 million, or $1.64 a share, from $38.7 million, or $1.95 a share in the year-ago period.
Comparable-store sales decreased 6.1 percent in the quarter ended July 29. Total sales dropped 7 percent to $504.4 million from $542.4 million in the 2016 quarter.
Adjusted earnings before interest, taxes, depreciation and amortization totaled $9.1 million last quarter versus $2.5 million in the year-ago quarter.
William Tracy, incoming president and chief executive officer, accentuated some positives: “We saw strength in key merchandise categories and brands and were pleased with the continued double-digit growth in our omnichannel business. Additionally, we continued to effectively execute our profit improvement initiatives, substantially reducing our SG&A expense for the quarter.”
Tracy added that further efforts to enhance the assortment, marketing and omnichannel strategies, and further cost reductions would “drive improved performance in the second half.”
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