Carson Pirie Scott parent says 4Q earnings rise, revenue up

YORK, Pa. — Bon-Ton Stores Inc. said Wednesday its fiscal fourth-quarter profit climbed 6 percent as a key revenue metric improved.

The department store chain also provided its fiscal 2011 earnings guidance on Wednesday.

Bon-Ton said its net income rose to $85 million, or $4.41 per share, for the period ended Jan. 29, up from $80.3 million, or $4.34 per share, a year earlier.

Revenue edged up 1 percent to $1.03 billion from $1.02 billion.

Revenue at stores open at least a year rose 0.8 percent. This figure is a key indicator of a retailer's health because it excludes results at stores opened or closed during the year.

Bon-Ton Stores' annual net income was $21.5 million, or $1.12 per share. In the prior year, it lost $4.1 million, or 24 cents per share.

Full-year revenue increased 1 percent to $3.05 billion from $3.03 billion. Revenue at stores open at least a year climbed 0.9 percent.

Bon-Ton said it expects fiscal 2011 earnings per share of $1 to $1.50. This assumes revenue at stores open at least a year will increase 1.5 percent to 3.5 percent.

Bon-Ton has corporate headquarters in York, Pa., and Milwaukee. It runs 275 department stores. In January the company said it extended president and CEO Bud Bergren's contract through Feb. 5, 2012.