Bon-Ton Stores Closing At Least 40 Locations In 2018

The Bon-Ton Stores plan to close at least 40 locations in 2018 in an effort to reduce costs and redirect expenditures to drive sales, the company said on Thursday.

The announcement to close the locations was made as Bon-Ton announced its third quarter fiscal results. Bon-Ton said comparable store sales decreased 6.6 percent compared with the previous year period and the net loss in the third quarter was $44.9 million, compared with a net loss of $31.6 million during the same time period in 2016.

Bon-Ton said the decline in sales reflected in part the impact of unseasonably warm weather.

"We are also focused on cost reductions through the continued rollout of our profit improvement initiatives," William Tracy, President and Chief Executive Officer of Bon-Ton Stores, said in a press release. "In addition, we expect to implement a significant store rationalization program and plan to close at least 40 locations through 2018."

The retailer has not yet announced a list of stores that will close next year. Bon-Ton operates 260 stores in 24 states under the names Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers.

Photo by Rusty Kennedy/Associated Press