Bon-Ton Stores Inc. reported unaudited consolidated earnings results for the second quarter and six months ended July 30, 2016. For the quarter, the company's net sales were $542,360,000 compared to $555,431,000 a year ago. Sales increases were achieved in Activewear, Big & Tall, Denim, Young Men's, Young Contemporary Plus, Women's Better Handbags, Hard Home and Furniture. Loss from operations was $23,718,000 compared to $19,743,000 a year ago. Loss before income taxes was $38,880,000 compared to $39,801,000 a year ago. Net loss was $38,736,000 compared to $39,563,000 a year ago. Diluted loss per share was $1.95 compared to $2.01 a year ago. Adjusted EBITDA was $2,467,000 compared to $5,733,000 a year ago. Comparable store sales decreased 2.0% as compared with the prior year period. Excluding the financial impact of the severance costs and consulting expenses, adjusted EBITDA would have been $7.1 million in the second quarter of fiscal 2017. Excluding the financial impacts of these items, adjusted EBITDA would have been $6.0 million in the second quarter of fiscal 2016.

For the six months, the company's net sales were $1,133,367,000 compared to $1,166,369,000 a year ago. Loss from operations was $46,594,000 compared to $38,786,000 a year ago. Loss before income taxes was $76,842,000 compared to $74,034,000 a year ago. Net loss was $76,554,000 compared to $73,637,000 a year ago. Diluted loss per share was $3.86 compared to $3.75 a year ago. Adjusted EBITDA was $3,792,000 compared to $9,824,000 a year ago. Capital expenditures were, excluding external contributions, approximately $26 million, and net of external contributions were approximately $12 million. CapEx spending focused primarily on projects that build infrastructure for growth such as omnichannel operations; customer-facing store upgrades, including fixtures, visuals and remodels; and information systems.

For fiscal 2017, loss per diluted share is expected to be in a range of $0.95 to $1.45. The company continues to expect adjusted EBITDA in a range of $130 million to $140 million, net loss in a range of $29 million to $19 million, interest expense, net of $62 million and depreciation and amortization and amortization of ease-related interests of $96.1 million. (As used in this release, adjusted EBITDA is not a measure recognized under GAAP – see the accompanying financial table which reconciles this non-GAAP measure to net loss).

The company also announced impairment charges of $178,000 for the second quarter of fiscal 2017 compared to $222,000 a year ago.