- The Bon-Ton Stores (NASDAQ:OTC:BONT) reports comparable-store sales decreased 1.3% in Q2.
- The company saw double-digit sales growth in eCommerce primarily due to a higher conversion rate and increased transaction size.
- Gross margin rate improved 24 bps to 36.8% as a result of reduced net markdowns.
- SG&A expense rate increased 44 bps to 38.7% due to decline in sales volume during the quarter.
- Store count -2 Y/Y to 270.
- FY2015 Guidance: Comparable-store sales: +1% to +1.5%; Gross margin rate: -10 bps to -30 bps; SG&A expense rate: -10 bps to -30 bps; Adjusted EBITDA: $145M to $155M; Diluted EPS: -$0.40 to -$0.90; Average diluted shares outstanding: 20M; Capex: not to exceed $75M.