Bon-Ton Stores announces 2014 financial results
The Bon-Ton Stores announced their financial results for the fourth quarter and full year 2014. The company saw an increase in store and ecommerce sales and an overall increase in net income.
In fourth quarter 2014, Bon-Ton Stores saw an increase in total sales from $914.9 million to $942.6 million. Income in the quarter increased by $1.1 million.
President and Chief Executive Officer, Kathryn Bufano said, "We were pleased with our sales performance in the fourth quarter in both stores and eCommerce. However, increased promotional activity in support of our initiative to drive incremental traffic as well as higher delivery expenses associated with our omnichannel operations resulted in a reduced gross margin rate in the fourth quarter. We managed our inventory such that we ended the period in line with our sales trend and well-positioned for spring selling."
Sales for the full year were relatively stagnant, decreasing overall from $2.770 billion to $2.756 billion and increasing in ecommerce by 25 percent. Income also increased for the full year by $2.7 million.
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