Bon-Ton: “Home remains a key differentiator” in Q2
August 17, 2017,
York, Pa. – The Bon-Ton Stores has high hopes for its home business as it works to overcome challenges that dragged its second quarter results.
“Our home business remains a key differentiator for Bon-Ton,” said incoming president and ceo William Tracy. ”As we build on the success that we’ve seen in this category and the ongoing popularity of home décor and design, we are also growing our decorative home offering online and in stores. Our assortment will now feature a more lifestyle décor merchandise, enabling customers to find pieces that showcase their unique personalities in home.”
“We have found that offering home and furniture enables us to round put our assortment, allowing us to be more competitive in the marketplace,” he explained. “It also serves as a great marketing vehicle to draw existing and new customers to our stores.”
Relatedly, Bon-Ton’s locally-sourced, artisan-made “Close to Home” initiative “continues to be successful and a key differentiator for us,” Tracy noted, and will be expanded into 189 stores by yearend.
While the company posted a net loss, it managed to narrow it to $33.2 million, or $1.64 per share, compared with net loss of $38.7 million, or $1.95 per share, a year ago.
Total sales declined 7.0% to $504.4 million, and comps dropped 6.1%.
Bon-Ton maintained its double-digit sales growth rate in omni-channel, which reflects sales its website, mobile site, and its “Let Us Find It” customer service program, as Bon-Ton leveraged its West Jefferson facility and store-fulfillment network.
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