FINANCE

Bon-Ton Stores 3Q Loss Widens

BY CSA STAFF

York, Pa., Bon-Ton Stores Inc. said Thursday its fiscal third-quarter loss widened due to unseasonable weather and a faltering economic environment.

The department store operator reported a loss of $19.4 million compared with a loss of $10.9 million a year ago. Total sales for the period ended Nov. 3 dipped 3% to $780.8 million from $804.1 million in the 2006 period, missing Wall Street’s estimate for $784.2 million.

The company said its Bon-Ton and Carson’s combined same-store sales fell 3% during the quarter.

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Dress Barn reports 3% 1Q comps decline

BY CSA STAFF

SUFFERN, N.Y. Dress Barn Tuesday reported that total net sales for the first quarter of fiscal year 2008 were $363.7 million, an increase of 1.5% over $358.4 million for the same quarter a year ago. According to the company, the increase in net sales resulted from the opening of new stores, partially offset by a same-store sales decline of 3%.

Net earnings for the first fiscal quarter decreased to $19.6 million from $27.4 million for the same period of the prior year. Diluted earnings per share for the first quarter were 30 cents versus 40 cents per share in the same period of fiscal 2007.

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Hy-Vee teams up with Crown Poly

BY CSA STAFF

DES MOINES, Ia. Grocery retailer Hy-Vee is making environmentally conscious decisions by reducing plastic bag use.

According to reports, the company has partnered with California-based Crown Poly to offer the Hippo Sak front-end bagging system.

Hippo Sak is a patented, reinforced, bottom seal T-shirt bag, which can carry over 26 one-pound cans without breaking or tearing holes at the bottom. The bags can hold 10-12 items per bag compared to the current national average of 3.4 items, and can replace upward to three current plastic bags.

Hippo Sak achieved an annualized reduction in bag use of over 25%.

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