UPDATE: Bon-Ton Stores Posts Wider-Than-Expected Q2 Loss, Cuts Profit Forecast

Shares of The Bon-Ton Stores (NASDAQ: BONT) tumbled more than 6% in pre-market trading after the company reported a wider-than-expected second-quarter loss and lowered its profit forecast for the full year. Bon-Ton Stores now projects full-year earnings of $0.25 to $0.55 per share, versus its earlier outlook of $0.40 to $0.70 per share. The York, Pennsylvania-based company posted a quarterly loss of $36.2 million, or $1.86 per share, versus a year-ago loss of $37.3 million, or $1.95 per share. The year-ago quarter results included debt extinguishment costs of $3.9 million associated with certain of its senior notes.Its sales gained 1.1% to $563.5 million. However, analysts were expecting a loss of $1.54 per share on revenue of $577.05 million. Its same-store sales increased 1.6% in the quarter.Adjusted EBITDA fell to $5.1 million from $8.7 million. Selling, general and administrative expense rose $4.6 million to $215.8 million, while depreciation and amortization expense increased to $25.2 million from $24.1 million.Bon-Ton Stores expects FY14 earnings of $0.25 to $0.55 per share, versus analysts' estimates of $0.57 per share. Bon-Ton also projects comparable sales to rise 1% to 2%.Brendan Hoffman, President and Chief Executive Officer, said, “We were pleased that we achieved comparable store sales growth, particularly given the challenging promotional environment and continuation of soft traffic trends.”Bon-Ton Stores shares tumbled 6.41% to $8.47 in pre-market trading.