Business

Bon-Ton Stores Inc (NASDAQ:BONT)

Bon-Ton Stores Inc (NASDAQ:BONT)

Shares of Milwaukee, WI-based Bon-Ton Stores Inc (NASDAQ:BONT) are up almost 200% on heavy volumes. BONT shares closed Wednesday at $0.32 – essentially the cash/share value and just $0.01 above its 52-week low. On Thursday morning, BONT shares opened around the previous day’s closing price. Then just after 10AM EST, shares began rising and hit a high of $0.96 on volumes over 100 times their normal averages.

Bon-Ton Stores Inc (NASDAQ:BONT)
Daily bar graph for $BONT

The catalyst for the jump was an announcement by Bon-Ton Stores Inc (NASDAQ:BONT) that it has launched “Style2Go”, a new online fashion solution created to make buying “trend right” apparel quick and easy. Style2Go outfits include a variety of products and accessories from shoes, tops and pants to dresses, handbags, jewelry and more.  The looks are unveiled online every Friday morning, inspiring Bon-Ton consumers to explore new unexpected fashion combinations helping them to look their very best.

Bon-Ton Stores Inc (NASDAQ:BONT) shares have been on a massive slide since mid-2013 when shares were trading above $20. Prior to today’s price action, in the past year BONT shares are down over 79% and down over 78% YTD. Even in the past week, BONT shares declined over 30%. However, sales, while declining, have not performed as badly. In 2013, sales were reported at $2.98 billion and that figure declined each following year. In 2016 sales were down to $2.67 billion. But per share losses have been worse. For 2016, the per share loss was (-$3.16) which was preceded by 2015’s loss of (-$2.90). The only investment firm that follows Bon-Ton Stores Inc (NASDAQ:BONT) rates the shares as a “Sell”.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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