Intelligencer Journal/Lancaster New Era
Bon-Ton forecast darkens
BY TIM MEKEEL, Business Editor
The Bon-Ton Stores this week issued a gloomier forecast for the recently concluded fiscal year.
The Bon-Ton now expects a loss in the fiscal year ended Jan. 26, making it the fourth of the last five years in the red.
The York-based chain this week said it anticipates a loss of 60 cents a share to $1.35 a share.
With 17.4 million common shares outstanding, that would translate into a loss of $10.4 million to $23.5 million.
The Bon-Ton, which has 271 stores in 24 states, will announce its fourth-quarter and fiscal-year results on March 12.
The new forecast is more dire than its previous forecast in November.
At that time, The Bon-Ton predicted fiscal-year results ranging from a profit of 20 cents a share to a loss of $1.35 a share.
But in recent years, the retailer has rarely been in the black.
Over the four latest fiscal years, The Bon-Ton has posted a net loss of $12.1 million, a net profit of $21.5 million, a net loss of $4.1 million and a net loss of $169.9 million.
The Bon-Ton has a store at Park City and a furniture gallery on Plaza Boulevard.