For the quarter ended Nov. 2, the owner of Boston Store, Younker’s, Bon-Ton, Carson’s, Elder-Beerman and Herberger’s posted a loss of $931,000, or 5 cents a share, compared with a loss of $9.8 million, or 55 cents, in the third quarter 2012. Analysts’ average estimate predicted a loss of 29 cents a share.
Net revenue was down 2.6% to $651.2 million below analysts’ estimate for $674.78 million in sales. Comparable store sales also were down 2.8%.
“We saw meaningful improvement in our comparable-store sales toward the end of the quarter,” Brendan Hoffman, president/ceo, said. “Additionally, due to strategic inventory reductions, we ended the quarter down approximately 5% on a comparable-store basis. Strong performances in a number of key merchandise categories where we increased our investment lead us to believe that we are on track with our strategic initiatives.”
Hoffman noted that the company’s e-commerce business is growing at a healthy pace, “benefiting from traffic-driving initiatives and our broader merchandise assortment.”
In the third quarter, gross margin decreased $6.3 million to $238.2 million. Gross margin was flat to third quarter 2012 at 36.6%.
Selling, general and administrative decreased $9.6 million to $215.2 million. The expense rate decreased to 33% of net sales, compared with 33.6% of net sales in the third quarter last year.
Hoffman said Bon-Ton is “looking forward to the holiday selling season with a fresh and inspired merchandise assortment that offers our customers quality and value in an exciting shopping environment.”
Bon-Ton also reaffirmed its full year fiscal forecast for earnings in the range of 15 cents to 75 a share. Analysts project annual earnings of 46 cents.
For commercial purposes, extract supplements can be obtained from the fruit of the pericarp. Garcinia cambogia reviews is performed by a physician Chen and Oz to prove that it is an herb for weight loss, a lot of research has been done. Studies, Garcinia cambogia extract supplementation decreases the weight of the body fat accumulation, was shown to have a positive effect on prevention. We are important substances such as cholesterol (LDL), reduces the serum leptin and triglycerides. In addition, it will increase the level of serotonin and cholesterol (HDL). The study also, Garcinia cambogia extract supplements, has proven that there are no significant adverse effects on many of the eight weeks, such as its use.