Elder-Beerman owner reports narrower loss

Bon-Ton Stores Inc., which owns and operates Elder-Beerman department stores in the Dayton area, on Thursday reported narrower net loss for the fiscal first quarter.

The York, Pa.-based company said its net loss totaled $26.6 million, or $1.41 per share for the quarter that ended May 4, compared with a net loss of $40.8 million, or $2.23 per share, for the same time last year.

Sales for the quarter totaled nearly $697 million versus $640.7 million during the year-ago period.

Analysts were expecting a per-share loss in the neighborhood of $1.57.

“Our first quarter results reflect meaningful progress on our strategic initiatives,” said Brendan Hoffman, president and chief executive. “Comparable store sales increased in spite of inclement weather. Enhancements to our eCommerce business again yielded double-digit sales growth while we saw increased penetration of proprietary credit card sales due to concentrated efforts to drive this business.”