Bon-Ton Stores Q2 Loss Narrows - Quick Facts

(RTTNews) - The Bon-Ton Stores, Inc. (BONT) Thursday said second-quarter net loss was $36.2 million or $1.86 per share, compared with a net loss of $37.3 million, or $1.95 per share in the previous year.

The second quarter of fiscal 2013 results included $3.9 million of debt extinguishment costs associated with certain of the company's senior notes.

On average, four analysts polled by Thomson Reuters expected a loss of $1.54 per share for the quarter. Analysts' estimates typically exclude special items.

Total sales grew 1.1 percent to $563.5 million from $557.1 million in the prior year period. Analysts expected revenues of $577.05 million.

Comparable store sales increased 1.6 percent compared with the prior year period.

Looking ahead, the company expects earnings per share to be in a range of $0.25 to $0.55, assuming comparable store sales growth of 1.0 to 2.0 percent.

In May, the company expected full year earnings in the range of $0.40 to $0.70 per share, on projected comparable store sales growth of 1 to 3 percent. Wall Street expects full year earnings of $0.57 per share.

Keith Plowman, CFO, said, "Based on the estimated increase in implementation costs, primarily professional fees and severance, associated with our expense efficiency initiative and expenses associated with the CEO transition...and our first half results, we are revising our fiscal 2014 guidance for Adjusted EBITDA to a range of $165 million to $175 million."