The Bon-Ton Stores, Inc. Announces Amendment to ABL Credit Facility; Provides Immediate Flexibility and Additional Liquidity Heading into Holiday Season

Operating revenues were $854.2 million, including approximately $49.1 million from the 53rd week, compared to $867.0 million in the prior year quarter. Favorable changes in foreign currency exchange rates benefited revenues by $4.2 million. Same store operating revenues declined 8.8%, an improvement compared to a decline of 9.4% in the third quarter of 2017, due to our strategic subscriber pricing initiatives and the inclusion of a full quarter of ReachLocal revenue in our same store calculation. Total digital revenues increased to $272.3 million, or approximately 31.9% of total revenue. GAAP net losses were $13.6 million, including a $42.8 million tax expense from the Tax Cuts and Jobs Act of 2017 and $27.6 million of after-tax restructuring, asset impairment charges and other costs. Click Read More below for additional information.

Best Buy Co., Inc. announced results for the second quarter ended July 29, 2017 (“Q2 FY18”), as compared to the second quarter ended July 30, 2016 (“Q2 FY17”). The company reported GAAP diluted earnings per share from continuing operations of $0.67, an increase of 20% from $0.56 in Q2 FY17. Non-GAAP diluted earnings per share from continuing operations were $0.69, an increase of 21% from $0.57 in Q2 FY17. “We are pleased today to report strong top and bottom line growth for the second quarter of fiscal 2018,” said Hubert Joly, Best Buy chairman and CEO. “Our higher-than-expected comparable sales of 5.4% were driven by stronger consumer demand for technology products and by the strong execution of our strategy. Against a backdrop of continued healthy consumer confidence, we believe broad-based product innovation is resonating with consumers and driving higher spend. And, with our effective merchandising and marketing activities, combined with our expert advice and service available online, in-store and in-home – we are garnering an increasing share of those dollars.” Click Read More below for additional detail.

Consumer expectations regarding personalized content and experiences have significantly increased in recent years -- as have their expectations for immediacy and choice. Consumers expect personalized experiences, and marketers seek meaningful customer interactions. At the same time, according to the 2021 Edelman Trust Barometer, trust and data privacy are becoming a major consideration. Addressing this new aspect of competition, Bertelsmann is leveraging data and AI to deliver personalized, brand-safe content as well as tailored and efficient learning experiences, ultimately lowering costs to consumers and business partners alike. This follows a strategic mandate by Bertelsmann’s Executive Board to magnify efforts in technology and data-driven business models, setting a clear agenda as Tech & Data Alliance to drive partnerships, build platforms and connect people and skills throughout the group. Microsoft, with its deep expertise in cloud-based computing, artificial intelligence (AI), and platform development, will support Bertelsmann to power this new generation of data-driven models, bringing even better value, experiences, and products to Bertelsmann’s customers, both in business-to-business as well as consumer-facing offerings.