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YORK, Pa. - Department store operator Bon-Ton Stores Inc. said Thursday its same-store sales fell 10.3 percent in August, which was more than Wall Street analysts expected.
| BONT | 3.45 |  -0.12 |
Same-store sales, or sales at stores open at least a year, are a key indicator of retailer performance since they measure growth at existing stores rather than newly opened ones.
Analysts polled by Thomson Reuters expected same-store sales to decline 6 percent.
Total sales for the four weeks ended Aug. 30 fell 9 percent to $207.1 million from $228.3 million.
The company said its August sales were affected by "continued weakness in customer traffic" and a lower level of clearance merchandise.
Bon-Ton said its customers are buying "closer to need."
The company said its best-performing categories were children's, cosmetics and accessories while its weakest-performing categories were furniture, ladies' and men's apparel.
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