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The Bon-Ton Stores, Inc. Announces June Closing of Its Younkers Muskegon, Michigan Furniture Gallery

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By Business Wirevia The Motley Fool

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The Bon-Ton Stores, Inc. Announces June Closing of Its Younkers Muskegon, Michigan Furniture Gallery

YORK, Pa.–(BUSINESS WIRE)– The Bon-Ton Stores, Inc. (Nasdaq: BONT) today announced it will close its Younkers Furniture Gallery in the Lakeshore Marketplace in Muskegon, Michigan. The Company will terminate its lease as of July 1, 2013. The closing will impact approximately 20 associates at this location.

The Bon-Ton acquired the leasehold interests in the Muskegon Furniture Gallery store as part of the Elder-Beerman acquisition in 2003. The Company does not expect costs associated with the closing of the location to be material. The store will close June 2013. The closing of the Younkers Furniture Gallery has no impact on the operations at the Younkers department store located in The Lakes Mall.

Brendan Hoffman, President and Chief Executive Officer, commented, “We are very grateful for the devoted Younkers Muskegon Furniture Gallery store associates and are committed to providing assistance to these associates.”

The affected associates in the Muskegon Furniture Gallery location will be offered the opportunity to interview for available positions at other Younkers stores or receive career transition benefits, including severance, according to established practices and state employment service support.

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 272 department stores, which includes 11 furniture galleries, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers. The department stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.

Certain information included in this press release contains statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which may be identified by words such as “may,” “could,” “will,” “plan,” “expect,” “anticipate,” “estimate,” “project,” “intend” or other similar expressions, involve important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. Factors that could cause such differences include, but are not limited to, risks related to retail businesses generally; a significant and prolonged deterioration of general economic conditions which could negatively impact the Company, including the potential write-down of the current valuation of intangible assets and deferred taxes; risks related to

From: http://www.dailyfinance.com/2013/04/12/the-bon-ton-stores-inc-announces-june-closing-of-i/

Business, Finance, Occupation & Industry

The Bon-Ton Stores, Inc. Appoints a New Member to Its Board of Directors

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By Business Wirevia The Motley Fool

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The Bon-Ton Stores, Inc. Appoints a New Member to Its Board of Directors

YORK, Pa.–(BUSINESS WIRE)– The Bon-Ton Stores, Inc. (Nasdaq: BONT) today announced its Board of Directors has unanimously elected Jeffrey B. Sherman to its Board, effective immediately. Mr. Sherman will serve on the Human Resources and Compensation Committee.

Mr. Sherman, 64, has been President of The Echo Design Group, a company that designs, manufactures and distributes accessories and home products, since 2010. From 2008 to 2010, he served as President and Chief Executive Officer of Hudson’s Bay Trading Company, a retailer with over 600 retail locations in Canada and the United States. Prior to that, Mr. Sherman served as President and Chief Operating Officer of the Polo Retail Group of Ralph Lauren Corporation, as Chief Executive Officer of Limited Stores and in positions of increasing responsibility for over thirty years with Federated Department Stores, including President and Chief Operating Officer of Bloomingdale’s. Mr. Sherman received his M.B.A. from New York University and a B.S. degree from New York City College. Mr. Sherman serves on the Board of Directors of United Way, New York City.

Tim Grumbacher, Chairman Emeritus of the Board, stated, “We are very pleased to welcome Jeff as a member of our Board of Directors. Jeff possesses extraordinary experience in the retail and apparel industries. I believe his expertise and vast knowledge will be invaluable to Bon-Ton. We welcome Jeff’s insight and counsel as we continue to execute our business strategies for profitable growth and increased shareholder value.”

The Company also announced that Bud Bergren has informed the Board of Directors he will not be standing for reelection to the Board. Mr. Bergren’s term as director will expire effective as of the 2013 annual meeting of shareholders.

Mr. Grumbacher said, “The Board of Directors and I would personally like to thank Bud for his contributions and dedicated service. We were very fortunate to have had his counsel and support and wish him the best.”

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 271 department stores, which includes 11 furniture galleries, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates. The stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

The Bon-Ton Stores, Inc. Announces Quarterly Cash Dividend

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By Business Wirevia The Motley Fool

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The Bon-Ton Stores, Inc. Announces Quarterly Cash Dividend

YORK, Pa.–(BUSINESS WIRE)– The Bon-Ton Stores, Inc. (Nasdaq: BONT) today announced the Board of Directors declared a cash dividend of five cents per share on the Class A Common Stock and Common Stock of the Company payable May 6, 2013 to shareholders of record as of April 19, 2013.

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 271 department stores, which includes 11 furniture galleries, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger’s and Younkers nameplates. The stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.

The Bon-Ton Stores, Inc.
Mary Kerr, 717-751-3071
Vice President
Investor & Public Relations
mkerr@bonton.com

KEYWORDS:   United States  North America  Pennsylvania  Wisconsin

INDUSTRY KEYWORDS:

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Source: FULL ARTICLE at DailyFinance