Bon-Ton reports loss for year, but sees positive 2013
The Bon-Ton Stores Inc. today reported a net loss of more than a dollar per diluted share for its fiscal 2012 year but said it expects to be in the black in fiscal 2013, according to a news release.
The $1.16 per diluted share loss for the 53-week period ending Feb. 2 came in toward the higher end of the department store chain’s expected range. It also is larger than the loss per diluted share of 67 cents for the 52-week fiscal 2011 year.
But Bon-Ton, with its corporate offices in York County and Milwaukee, said it expects to earn between 40 cents and $1 per diluted share in fiscal 2013, according to company statements.
Net income for the 2012 fiscal year was a loss of about $21.6 million compared with a loss of about $12.1 million in the prior-year period.
The company said the 2012 loss includes about $7.1 million for fees associated with exchanging senior notes and about $7.9 million for severance-related costs.