Bon-Ton (BONT) Shares Rise On Strong Q4 Results, Optimistic 2010 Outlook

Bon-Ton Stores, Inc. (NASDAQ: BONT) posted a Q4 net income of $80.3 million ($4.34 per share), compared with a loss of $87.7 million ($5.22 per share), a year ago.

Sales fell 3% to $1 billion. As a result of the strong Q4 profit, the company's full-year loss of 24 cents a share was much narrower than the guidance given in November.

Bon-Ton projected a 2010 profit of 30 cents per share to $1.10 per share. The company is looking to grow its higher-margin, private-label business, which includes brands like Breckenridge, Living Quarters, and Miss Attitude. It also expects same-store sales to go up 2%, and to further reduce selling, general, and administrative expenses by $20 million to $25 million in 2010.