298
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
Published
May 18, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Bon-Ton Stores net loss expands in first quarter, updates fiscal 2017 outlook

Published
May 18, 2017

Weak mall traffic and warm weather continues to hinder Bon-Ton Stores. The retailer’s fourth-quarter results were negatively impacted by these factors that are out of its control, and the retailer’s first quarter had a similar fate.
 

Bon-Ton


“Our first-quarter results did not meet our expectations due primarily to weak mall traffic trends, unfavorable weather and marketing challenges associated with the Easter calendar shift,” said President and Chief Executive Officer Kathryn Bufano, who is resigning from the company on August 25, 2017.
 
“That said, our omnichannel business once again generated double digit growth and we continued to expand our merchandise offering with highly recognized brands as well as exclusive and private brands that resonate with our customer.”

The double-digit omnichannel growth reflected online sales, as well as mobile sales and Bon-Ton’s Let Us Find It customer service program. Omnichannel could not quell the retailer’s sales decline however. Total sales fell 9.3% to $536.1 million and comparable sales decreased 8.8%.
 
The markdown rate and increased delivery expenses impacted the gross margin rate, which decreased 170 basis points, and gross profit fell $27.5 million to $172.6 million.
 
Net loss for the quarter expanded to $57.3 million, or $2.86 per share, from a net loss of $37.8 million, or $1.91 per share, in the previous first quarter, and adjusted EBITDA was negative $15.6 million, compared to positive $1.3 million in the prior year.
 
Bufano added, “Looking ahead, we will continue to make enhancements to our omnichannel strategy, expand our merchandise assortment with brands and categories that appeal to our customer, and elevate our marketing programs to drive traffic and conversion. In addition, we expect to achieve additional cost reductions in fiscal 2017 through the rollout of our internal profit improvement initiative.”
 
Bon-Ton also updated its fiscal 2017 guidance and now expects comparable sales to decrease in a range of 3.0% to 4.0% and a gross margin rate of flat to up 10 basis points. The company continues to expect the loss per share to be in range of $2.08 to $2.59.

Copyright © 2024 FashionNetwork.com All rights reserved.