The Bon-Ton Stores (BONT) Shares Up 9% After 4th Quarter Swing To Profitability
By Daniel James Hayden IV
March 10, 2010 3:19 PM
March 10, 2010 3:19 PM
Shares of The Bon-Ton Stores, Inc. (Nasdaq: BONT) were up more than 9% in late afternoon trading after the regional department store reported that it had swung back to a 4th quarter profit.
The Bon-Ton Stores reported 4th quarter net income of $80.3 million, or $4.34 per share, compared with a loss of $87.7 million, or $5.22 per share, a year earlier.
However, the earnings report had a negative side as well, as sales fell 3% to $1 billion and same store sales fell 2.4%.
The mixed news probably accounts for the stock opening at $13.00, then falling slightly towards the end of the trading day.
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