Bon-Ton Stores misses by $0.41, misses on revs; lowers FY17 guidance :
- Reports Q1 (Apr) loss of $1.91 per share, $0.41 worse than the single analyst estimate of ($1.50); revenues fell 3.0% year/year to $608.4 mln vs the $628 mln single analyst estimate.
- Comparable store sales in the first quarter of fiscal 2016 decreased 2.9%. Total sales in the period decreased 3.3% to $591.0 million, compared with $610.9 million in the first quarter of fiscal 2015.
- Sales increases were achieved in Home, Young Men's, Big and Tall and Young Contemporary, while Woman's Accessories was the poorest performing category. Sales were also impacted by general weakness in apparel and shoes.
- Co issues in-line guidance for FY17, lowers EPS to ($1.45)-(0.95) from ($1.00)-(0.50) vs. ($1.17) two analyst estimate. Adj. EBITDA to $130-140 mln from $140-150 mln; A comparable sales performance ranging from flat to a decrease of 1% from +0-1%; A gross margin rate ranging from a 30- to 50-basis-point increase over the fiscal 2015 rate of 34.7% from +40-60 bps.
No comments:
Post a Comment