Total sales for the quarter reached $746.8 million, with theacquired units accounting for a $464.7-million proportion of thewhole. Bon-Ton's comp-store sales for the period rose 4.6%, whileCarson's comp-store sales for the 13 weeks ended July 29, were up2.6%.

The decision to liquidate some lines resulted in a high level ofclearance sales, particularly of home and furniture, which raisedcomps for Bon-Ton. Management said that a decision was made toliquidate "non-go-forward" goods at the time of the Carson'sacquisition, and by July 80% of approximately $100 million infurniture inventory alone was gone. Without liquidation, Bon-Toncomp-store sales would have been negative, the company said.

The first full year of complete integration of the companieswill occur in 2008, according to Byron Bergren, president and CEO.The Carson's units will not undergo much change, but "Bon-Ton isentering a period of dramatic change," he said during a conferencecall. "This is a transition year."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.