Bon-Ton Stores income rises 42% due to income tax adjustment
13 Mar '06
1 min read
Department store operator Bon-Ton Stores, Inc reported results for the fourth quarter and fiscal 2005 ended January 28, 2006.
The Company reported net income of $38.2 million, or $2.30 per share, for the fourth quarter of fiscal 2005, which was positively impacted by an income tax adjustment of approximately $2.2 million, or $0.13 per share, as more fully described in "Taxes" below, and negatively impacted by a pre-tax charge of $2.4 million, or an after-tax impact of $0.09 per share, associated with the closing of four stores, compared to net income of $26.8 million, or $1.65 per share, in the prior year period.
The Bon-Ton Stores Inc operates 279 department stores in 23 states in the Northeast, Midwest and Great Plains under the Bon-Ton, Elder-Beerman, Bergner's, Boston Store, Carson Pirie Scott, Herberger's and Younkers nameplates.
The stores offer a broad assortment of brand-name fashion apparel and accessories for women, men and children, as well as cosmetics, home furnishings and other goods.
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