Bon-Ton profits dip

The Bon-Ton Stores Inc., which has corporate headquarters in Milwaukee and York, Pa., today reported fourth quarter net income of $74.4 million, down 4.8 percent from $78.2 million in the previous fiscal fourth quarter.

For the full fiscal year the company lost $21.55 million, up 77.7 percent from a net loss of $12.13 million in the previous fiscal year.
 
Nevertheless, president and chief executive officer Brendan Hoffman said, “we were pleased with our fourth quarter results and our accomplishments throughout 2012. We sequentially improved the business each quarter through a number of key initiatives, including a better balanced merchandise assortment, more disciplined inventory management, enhanced marketing efforts and upgrades to our eCommerce business.”
 
The company reported fourth quarter net income of $1.015 billion, up from $983.23 million in the previous fourth quarter. For the full year the company reported net sales of $2.92 billion, up $2.88 billion in the previous fiscal year. However, the fourth quarter and full year results for the 2012 fiscal year were a week longer than the previous fiscal quarter and year.
 
“As we look ahead, we are excited for continued progress on our initiatives as we gain additional insights into the business,” Hoffman said. “We believe we laid the foundation in 2012, which we intend to enhance with new strategies, paving the way for sustainable long-term growth.”
 

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

What's New

BizPeople

Sponsored Content

BIZEXPO | EARLY BIRD PRICING | REGISTER BY APRIL 15TH & SAVE

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
BizTimes Milwaukee