YORK, Pa.–Bon-Ton reported a widened net loss for the first quarter ended May 3 on a sales decline.
The department store reported a net loss of $34.1 million, compared with a loss of $29.3 million in the year-ago quarter.
Sales decreased 5.1 percent to $700.2 million. Comparable-store sales fell 4.6 percent.
“Our financial results continue to be impacted by the macroeconomic environment,” Bud Bergren, president and chief executive officer, said in a statement.
However, Bergren singled out Bon-Ton’s reduced inventory levels and improved gross margin rates as some of the progress achieved during the quarter.