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More on Bon-Ton Stores' Q3

Published 11/17/2016, 09:13 AM
More on Bon-Ton Stores' Q3
BONTQ
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  • The Bon-Ton Stores (NASDAQ:BONT) reports comparable-store sales fell 4.9% in Q3.
  • Proprietary credit card sales rate rose 250 bps to 57%.
  • The company saw sales growth in furniture, dresses, denim, all active sportswear, contemporary plus, men’s big and tall, and men’s sportswear.
  • Gross margin rate expanded 170 bps to 35.1%.
  • SG&A expense rate grew 90 bps to 36.2%.
  • Adjusted EBITDA +85.7% to $10.57M.
  • Merchandise inventories -4.9% to $945.9M.
  • Store count was 267 for the quarter.
  • The company ended the quarter with excess borrowing capacity of ~$303M under its revolving credit facility.
  • FY2016 Guidance: Comparable sales: 2.5% to 3.5%; Gross margin rate: +80 bps to +90 bps; SG&A: $885M to $888M; Adjusted EBITDA: $114M to $124M; Diluted EPS: -$2.04 to -$2.54; Shares outstanding: $20M; Capex: not to exceed $40M.


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