It was a tough second quarter for The Bon-Ton as the department store retailer reported a decline in revenue and comparable store sales.
For the second quarter ended July 29, the company reported net sales of $504.4 million, a year-over-year decline of 7%. Comparable store sales for the quarter were down 6.1%.
Bon-Ton officials said the company continued its double-digit sales growth in omnichannel, which reflects sales via its website, mobile site and the Let Us Find It customer service program.
Net loss for the quarter was $33.2 million, compared to a net loss of $38.7 million in the comparable quarter the previous year. Diluted loss per share was $1.64 vs. $1.95 in the previous year.
William Tracy, incoming president and CEO of The Bon-Ton, said the company saw strength in key merchandise categories and brands and that the company was pleased with the continued double-digit growth in its omnichannel business.
“We continued to effectively execute our profit improvement initiatives, substantially reducing our SG&A expense for the quarter,” he said. “While our results were consistent with our expectations and showed an improvement over our performance in the first quarter, we remain focused on working to better position the business for the long-term.”
Looking forward, Tracy said the company will focus on efforts to further enhance its merchandise assortment with an emphasis on targeted growth categories, refine its marketing strategy to increase traffic and customer engagement, and drive growth in its omnichannel business.
