Bon-Ton Stores Inc. (NASDAQ:BONT) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Bon-Ton Stores Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-1.41 in the quarter versus EPS of $-2.17 in the year-earlier quarter.
Revenue: Rose 1.16% to $661.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bon-Ton Stores Inc. reported adjusted EPS loss of $1.41 per share. By that measure, the company beat the mean analyst estimate of $-1.57. It missed the average revenue estimate of $665.23 million.
Quoting Management: Brendan Hoffman, President and Chief Executive Officer, commented, “Our first quarter financial results reflect meaningful progress on our strategic initiatives. Comparable store sales increased in spite of inclement weather. Enhancements to our eCommerce business again yielded double-digit sales growth while we saw increased penetration of proprietary credit card sales due to concentrated efforts to drive this business. Our gross margin rate benefited from a better balanced merchandise mix and a more effective markdown strategy.”
Key Stats (on next page)…