Bon-Ton Stores Inc. announced unaudited consolidated earnings results for the first quarter ended April 30, 2016. For the quarter, the company reported net sales of $591,007,000 against $610,938,000 a year ago. Loss from operations was $22,876,000 against $19,043,000 a year ago. Loss before income taxes was $37,962,000 against $34,233,000 a year ago. Net loss was $37,818,000 or $1.91 basic and diluted per share against $34,074,000 or $1.74 basic and diluted per share a year ago. Adjusted EBITDA was $1,325,000 against $4,091,000 a year ago. Sales increases were achieved in Home, Young Men's, Big and Tall and Young Contemporary, while Woman's Accessories was the poorest performing category. Sales were also impacted by general weakness in apparel and shoes. Total debt increased 5.1% over prior year levels due to increased borrowings under revolver to support capex expenditures, pension payments, working capital increases and changes in capital structure. Capital expenditures for the quarter, excluding external contributions were approximately $12.6 million.

The company provided earnings guidance for the fiscal 2016. For the fiscal, the company expects net loss in the range of $29,000,000 to $19,000,000, net interest expense of $62,000,000, depreciation and amortization and amortization of lease-related interests of $96,100,000, adjusted EBITDA in the range of $130,000,000 to $140,000,000, net capital expenditures of $40,000,000 and cash flow in the range of $28,000,000 to $38,000,000. Comparable sales performance ranging from flat to a decrease of 1% and gross margin rate ranging from a 30- to 50-basis-point increase over the fiscal 2015 rate of 34.7%. Loss per share in the range of $0.95 to $1.45, and cash flow in the range of $28 million to $38 million.