Shares of Bon-Ton Stores, Inc. (NASDAQ:BONT) Dip Upon Announcement of January Closing of Its Hamden Location

Retail outfit, Bon-Ton Stores, Inc. (NASDAQ:BONT), announced that it will not renew the lease of the location at the Hamden Mart in Hamden, CT.

MILWAUKEE, Wis., Oct. 27, 2016 (GLOBE NEWSWIRE) — The Bon-Ton Stores, Inc. (BONT), today announced it will close its Bon-Ton store at the Hamden Mart in Hamden, Connecticut. The Company will not renew the lease, which terminates January 31, 2017. The closing will impact approximately 61 associates at this location.  The store will remain open until the end of its lease term.

“Closing this store was a difficult decision,” commented Kathryn Bufano, president and chief executive officer for The Bon-Ton Stores, Inc. “We would like to thank the loyal customers who have shopped with Bon-Ton over the years as well as our devoted store associates for their dedication and friendly customer service to this community.”

The affected associates at the Hamden Mart Bon-Ton location will be considered for available opportunities at other store locations or receive career transition benefits, including severance, according to established practices and state employment service support.

Customers are invited to shop at the company’s website at bonton.com.

About The Bon-Ton Stores, Inc.

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 267 stores, which includes 9 furniture galleries and five clearance centers, in 26 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Boston Store, Bergner’s, 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.  The Bon-Ton Stores, Inc. is an active and positive participant in the communities it serves.  For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.

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Bon-Ton Stores, Inc. (NASDAQ:BONT) shares have moved -5.5486% on the news thus far today and have traded in the range of $1.3000 – 1.4400 during the current session. In order to take a look at where the stock might be headed longer term, investors often look to research firms that cover the stock. Sell-side research firms currently have a consensus one-year price target of $1.0000 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  The sell-side analysts are projecting earnings per share of $3.6800 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-1.6000 per share according to First Call.

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In looking at where the stock is trading on a technical level, the stock is trading -15.7541% away from its 50-day moving average of $1.6144.  Based on the most recent available data, the equity is -67.6167% off of its 52-week high of $4.2000 and +23.6455% away from its 52-week low which is $1.1000.

Today, the stock opened at $1.4300 and the last bid at the time of writing stood at $1.3601.  During the session thus far, the equity dipped down to $1.3000 and touched $1.4400 as the high point.  Bon-Ton Stores, Inc. (NASDAQ:BONT) has a market cap of $29.26M and has seen an average daily volume of 68,066 over the past three months.

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