Bon-Ton Stores misses by $0.15, misses on revs; guides FY17 EPS above two analyst estimate :
- Reports Q4 (Jan) earnings of $2.64 per share, excluding non-recurring items,$0.15 worse than the single analyst estimate of $2.79; revenues fell 1.6% year/year to $927.9 mln vs the $947.03 mln two analyst estimate.
- Comparable store sales decreased 1.9%. Adjusted EBITDA totaled $94.0 million, inclusive of $3.9 million of severance costs associated with the Company's previously announced planned expense reductions (not included in the Company's guidance) and a $0.6 million gain associated with an insurance settlement.
- Sales were robust from Black Friday through the month of December, with notable increases achieved in active wear across all families of business, Men's Big and Tall, Young Men's and Young Contemporary. However, sales of cold-weather goods decreased 10% in the period, more than offsetting sales increases we achieved in non-seasonal merchandise categories. We continued our trend of double-digit sales growth in omnichannel, which reflects sales via our website and Let Us Find It initiative, as we successfully leveraged our new West Jefferson facility and expanded store-fulfillment network.
- Co issues upside guidance for FY17, sees EPS of ($0.50-1.00) vs. ($1.35) two analyst estimate. A comparable sales performance ranging from flat to a 1.0% increase; a gross margin rate ranging from a 40- to 60-basis-point increase over the fiscal 2015 rate of 34.7%; Adjusted EBITDA in a range of $140 million to $150 million
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