Milwaukee The Bon-Ton Stores said Thursday its third-quarter sales declined 2.9% from a year ago and its net loss narrowed by about $10 million due to expense reductions.
Bon-Ton reported revenue for the period ending Oct. 31 was $703.9 million, compared with $724.9 million in the third quarter of fiscal 2008. The retailer’s net loss was $4.2 million, compared with a net loss of $14.3 million a year earlier.
Third-quarter results reflect the benefit of Bon-Ton’s cost-cutting initiatives, including layoffs and inventory reductions, implemented in 2008 and 2009, said Bud Bergren, the company’s president and CEO.
Bon-Ton, which has headquarters offices in Milwaukee and in York, Pa., operates 279 stores under the Bon Ton, Bergner’s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger’s and Younkers, and Parisian nameplate.