40 Bon-Ton Stores Closing in 2018

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There will be 40 Bon-Ton stores closing up shop in 2018.

40 Bon-Ton Stores Closing in 2018This news comes from Bon-Ton CEO Bill Tracy during a recent conference call with investors. Tracey claims that the 40 Bon-Ton stores closing in 2018 will mostly be made up of locations that have been underperforming.

The decision to close 40 Bon-Ton stores is a major one for the retailer, which only has a total of 260 locations. The company is looking over all of its stores to determine which ones it will close. The exact locations that will be a part of the Bon-Ton stores closing spree is unknown.

Nancy Walsh, the CFO of Bon-Ton, says that the company will focus on closing down “negative cash flow stores” that have already been on its radar. She also notes that the chain is looking to close some of its smaller locations. Other locations on the Bon-Ton stores closing list will be those that would have originally shut down at the end of the current fiscal year, reports Retail Dive.

“This will enable us with moving forward with a more productive store footprint and redirecting capital expenditures toward investments designed to drive sales growth,” Tracy said about the Bon-Ton stores closing plan in a statement obtained by USA Today.

The struggles that Bon-Ton is facing are mostly the same as other physical retailers. Lower foot traffic is hurting sales as more customers shop online. Bon-Ton has been looking to overcome these problem by singing deals with Amazon.com, Inc. (NASDAQ:AMZN) that bring lockers for pickups and returns to its stores.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/40-bon-ton-stores-closing-in-2018/.

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