Bon-Ton Stores Q2 Loss Narrows; Cuts FY EPS View - Quick Facts

(RTTNews) - Bon-Ton Stores Inc. (BONT) reported that its second-quarter of 2013 net loss narrowed to $37.3 million or $1.95 per share, from $45.0 million, or $2.43 per share in the second quarter of fiscal 2012.

The results for the second quarter of fiscal 2013 included a charge of $3.9 million, or $0.20 per share, for fees and accelerated amortization of deferred fees related to the tender and redemption of the company's Senior Notes due 2014 and Second Lien Senior Secured Notes due 2017. The results for the second quarter of fiscal 2012 included a charge of $6.3 million, or $0.34 per diluted share, for fees associated with the exchange of certain of the Company's Senior Notes due 2014 for Second Lien Senior Secured Notes due 2017.

Comparable store sales for the second quarter of fiscal 2013 decreased 6.4%. Total sales for the second quarter of fiscal 2013 decreased 6.3% to $557.1 million, compared with $594.9 million for the prior year period.

Analysts polled by Thomson Reuters expected the company to report a loss of $1.38 per share and revenues of $616.82 million for the quarter. Analysts' estimates typically exclude special items.

The company revised its fiscal 2013 guidance for Adjusted EBITDA in a range of $170 million to $190 million, for earnings per share in a range of $0.15 to $0.75 and for cash flow in a range of $10 million to $30 million. The guidance is based on assumption that comparable store sales in a range of a negative 2.5% to flat. Analysts expect the company to report a loss of $0.90 per share for fiscal 2013.

While announcing the first-quarter result, the company expected full-year earnings per share in the range of $0.40 to $1.00.