The cost-cutting measures are projected to save the company about $35 million in its fiscal year 2016, which starts in February. The business’s revenue was down 3.0% on a year-over-year basis.
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Shares of Bon-Ton Stores Inc (NASDAQ:BONT) traded down 38.89% during midday trading on Thursday, hitting $1.21. The company has a market cap of $42 million and the number of outstanding shares have been calculated to be 20,959,817 shares. Finally, Telsey Advisory Group dropped their price objective on shares of Bon-Ton Stores from $6.00 to $3.50 and set an “underperform” rating on the stock in a research note on Friday, August 21st.
The Bon-Ton Stores Inc. will rely heavily on its stores to fulfill online orders heading into 2016.
Revenue during the quarter went down marginally by 2.71 percent to $640.90 million from $658.76 million in the previous year period.
The stock has a 50 day moving average of $3.16 and a 200-day moving average of $4.44.
Bon-Ton Stores Inc.’s third-quarter loss widened as unseasonably warm weather cut into fall sales in an already tough retail market, the company said Thursday. During the same quarter in the prior year, the business earned ($0.57) earnings per share.
The Bon-Ton had been declaring a quarterly dividend of 5 cents a share since March 2011, according to the company’s website.
Tiffany & Co. (TIF) of the Services sector is up 0.96% so far today trading at $74.95 at a volume of 175920 shares. The return on investment for Bon-Ton Stores Inc. The ex-dividend date was Wednesday, October 14th. The organization supplies an assortment of brand-name fashion clothing and accessories for men, women and kids.
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Bon-Ton, No. 181 in the Internet Retailer 2015 Top 500 Guide, has deployed technology that identifies where inventory is located, whether in stores or distribution centers. It manages about 270 stores in 26 states in Midwest, the Northeast and upper Great Plains under Elder-Beerman, Bergner’s, Boston Store, Carson’s, the Bon-Ton, Herberger’s and Younkers nameplates, encompassing a total of about 25 million square feet. The Company operates through two segments: shops and eCommerce sections. Its stores offer a range of fashion apparel and accessories for women, men and children, as well as cosmetics, home furnishings and other goods. The Company’s nationally distributed brand array includes labels including Anne Klein, Clarks, Clinique and Calvin Klein, in the attire, accessories, footwear, cosmetics as well as home furnishings industries, among others. The Company’s private brand portfolio includes brands, such as Laura Ashley, Ruff Hewn, Relativity, Studio Works, Breckenridge, Living Quarters, Paradise Collections, Kenneth Roberts, Cuddle Bear, John Bartlett and Mambo.
