Low consumer spending continues to hamper The Bon-Ton Stores Inc., the owner and operator of the Boston Store chain.
Bon-Ton, which has headquarters in York, Pa. and Milwaukee, today reported a second quarter net loss of $45 million, or $2.43 per share, up 39 percent compared to $32.3 million, or $1.78 per share, in the second quarter of 2011.
The retailer’s sales dipped slightly from $595.5 million in the 2011 second quarter to $594.9 million in the 2012 second quarter, but its comparable store sales increased by 0.1 percent.
“While the financial results were below last year, we are encouraged by the progress we have made in several areas, including merchandising, eCommerce and marketing,” said Brendan Hoffman, President and Chief Executive Officer “We were particularly pleased with favorable customer response to new offerings, reflecting recent adjustments in our merchandise assortments. In addition, customers are responding extremely well to new marketing messages that clearly communicate the value we offer.”
