YORK, Pa.–Reduced selling, general and administrative expenses helped The Bon-Ton Stores to an increase of 5.9 percent in its net income, to $85 million, in its fiscal fourth quarter.
It was the department-store retailer’s first profitable quarter of the fiscal year. Bon-Ton shaved SG&A by 5.2 percent on a dollar basis in the quarter, which ended on Jan. 29. As a percentage of sales, operating expenses dropped 159 basis points to 25.3 percent.
Net sales, meanwhile, edged up 0.8 percent both in total and on a same-store basis, finishing the quarter at $1 billion. Gross margin fell 112 basis points to 37 percent.
For the entire fiscal year, Bon-Ton posted net income of $21.5 million, as compared to a net loss of $4.1 million in the prior year. Net sales increased 0.7 percent to $3 billion.