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Bon-Ton Stock Continues Huge Runup Amid Cyber Monday Deal

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Bon-Ton Stock Continues Huge Runup Amid Cyber Monday Deal
  • The Thanksgiving shopping weekend is certainly giving shares of Bon-Ton Stores Inc (NASDAQ: BONT) a big boost this week.
  • The stock has risen more than 59 percent since Tuesday morning and about 12.5 percent on Wednesday alone.
  • The retailer announced on Tuesday it would extend its Cyber Monday sale to two days.

According to a press release issued by Bon-Ton Stores, the company that operates Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers stores, customers will now be able to access exclusive online-only Cyber Monday offers on th aforementioned sites on both Sunday and Monday.

On top of the exclusive offers, customers will receive $50 off their $100 or more online purchases, although some exclusions apply. Clients will also receive standard shipping with any purchase (no minimum), only by entering the promo code "FREESHIP."

Related Link: Black Friday (And Cyber Monday) Primer: Here's What Some Top Retailers Are Doing

The offers and discounts include 25 percent off designer jewelry, up to 70 percent off certain apparel, 65 percent off sports throws from many NBA, NCAA, NFL and NHL teams, and 30 percent off certain toys.

Despite the 59 percent surge Bon-Ton's stock experienced over the past couple of days, shares are still down more than 73 percent year-to-date, mainly driven by several disappointing earnings reports. In its most recent quarter, the company reported a net loss of $(1.72) per share against $(0.52) per share estimates. Revenues for the third quarter came in at $623 million, below the Street’s consensus of $658 million.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

 

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