The Bon-Ton Stores, Inc. on Tuesday announced decreased revenues for the fourth quarter and fiscal 2013.
Comparable store sales and operating income dropped during the fourth quarter and throughout last year.
Comparable store sales decreased 7.3 percent during the fourth quarter.
Operating income dropped from $95.3 million during the fourth quarter of 2012 to $76.1 million in the fourth quarter last year.
Net income in the fourth quarter was $61.3 million, or $3.04 per share, compared with net income of $74.4 million, or $3.71 per share, in the fourth quarter of the previous year.
Throughout fiscal 2013, comparable store sales decreased 4.2 percent, and operating income slid from $70 million in 2012 to $69.4 million last year.
Total sales decreased 5.1 percent from $2.9 billion to $2.7 billion.
CEO Brendan Hoffman, who on Tuesday announced he will resign at the end of his contract next year, blamed the weather for a decrease in sales.
"Multiple snowstorms and the polar vortex during the December and January periods resulted in a sharp decline in traffic and, therefore, we were unable to achieve our comparable store sales goals in the fourth quarter," he said.
Hoffman said the company, which has twin headquarters in Springettsbury Township and Milwaukee, is "well positioned for the spring season" and believes Bon-Ton initiatives will "drive improved performance."
—Reach Candy Woodall at firstname.lastname@example.org.