<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the Quarter ended October 28, 2000 Commission File Number
0-19517
THE BON-TON STORES, INC.
2801 EAST MARKET STREET
YORK, PENNSYLVANIA 17402
(717) 757-7660
INCORPORATED IN PENNSYLVANIA IRS NO. 23-2835229
---------------------
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months, and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
------ ------
As of November 24, 2000 there were 12,226,769 shares of Common Stock,
$0.01 par value, and 2,989,853 shares of Class A Common Stock, $0.01 par value,
outstanding.
<PAGE> 2
PART I: FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
THE BON-TON STORES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
October 28, January 29,
(In thousands except share and per share data) 2000 2000
---------------------------------------------- ---- ----
(Unaudited)
<S> <C> <C>
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 12,682 $ 10,807
Trade and other accounts receivable, net of allowance for doubtful accounts
of $2,751 and $3,167 at October 28, 2000 and January 29, 2000, respectively 27,246 27,782
Merchandise inventories 258,379 203,489
Prepaid expenses and other current assets 14,490 12,371
Deferred income taxes 623 1,926
--------- ---------
Total current assets 313,420 256,375
--------- ---------
PROPERTY, FIXTURES AND EQUIPMENT AT COST,
less accumulated depreciation and amortization 149,761 144,715
OTHER ASSETS 15,216 16,402
--------- ---------
TOTAL ASSETS $ 478,397 $ 417,492
========= =========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 92,023 $ 67,353
Accrued payroll and benefits 7,374 10,016
Accrued expenses 17,255 26,262
Current portion of long-term debt 6,607 682
Current portion of obligations under capital leases 469 442
Income taxes payable -- 9,832
--------- ---------
Total current liabilities 123,728 114,587
--------- ---------
LONG-TERM DEBT, LESS CURRENT MATURITIES 162,926 106,247
OBLIGATIONS UNDER CAPITAL LEASES, LESS CURRENT MATURITIES 1,077 1,431
DEFERRED INCOME TAXES 517 1,362
OTHER LONG-TERM LIABILITIES 8,447 3,174
--------- ---------
TOTAL LIABILITIES 296,695 226,801
--------- ---------
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Common Stock - authorized 40,000,000 shares at $0.01 par value; issued and outstanding
shares of 12,226,769 and 12,276,860 at October 28, 2000 and January 29, 2000, respectively 122 123
Class A Common Stock - authorized 20,000,000 shares at $0.01 par value; issued
and outstanding shares of 2,989,853 at October 28, 2000 and January 29, 2000 30 30
Additional paid-in-capital 106,891 108,083
Deferred compensation (375) (2,172)
Retained earnings 75,034 84,627
--------- ---------
TOTAL SHAREHOLDERS' EQUITY 181,702 190,691
--------- ---------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 478,397 $ 417,492
========= =========
</TABLE>
The accompanying notes are an integral part of these consolidated statements.
2
<PAGE> 3
THE BON-TON STORES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
THIRTEEN THIRTY-NINE
WEEKS ENDED WEEKS ENDED
----------- -----------
(In thousands except per share data) October 28, October 30, October 28, October 30,
(Unaudited) 2000 1999 2000 1999
----------- ---- ---- ---- ----
<S> <C> <C> <C> <C>
NET SALES $ 174,924 $ 168,474 $ 483,405 $ 460,322
OTHER INCOME, NET 468 477 1,579 1,515
--------- --------- --------- ---------
175,392 168,951 484,984 461,837
--------- --------- --------- ---------
COSTS AND EXPENSES:
Costs of merchandise sold 110,178 106,469 308,777 292,378
Selling, general and administrative 56,010 59,950 164,210 161,821
Depreciation and amortization 4,677 4,194 12,919 10,595
Unusual expense -- -- 6,485 --
--------- --------- --------- ---------
INCOME (LOSS) FROM OPERATIONS 4,527 (1,662) (7,407) (2,957)
INTEREST EXPENSE, NET 2,906 2,211 8,066 6,179
--------- --------- --------- ---------
INCOME (LOSS) BEFORE INCOME TAXES 1,621 (3,873) (15,473) (9,136)
INCOME TAX EXPENSE (BENEFIT) 615 (1,472) (5,882) (3,472)
--------- --------- --------- ---------
INCOME (LOSS) BEFORE EXTRAORDINARY ITEM 1,006 (2,401) (9,591) (5,664)
EXTRAORDINARY ITEM - loss on early extinguishment of debt,
net of income tax benefit of $232 -- -- -- (378)
--------- --------- --------- ---------
NET INCOME (LOSS) $ 1,006 $ (2,401) $ (9,591) $ (6,042)
========= ========= ========= =========
PER SHARE AMOUNTS:
BASIC:
Income (loss) before extraordinary item $ 0.07 $ (0.16) $ (0.64) $ (0.38)
Effect of extraordinary item -- -- -- (0.03)
--------- --------- --------- ---------
Net income (loss) $ 0.07 $ (0.16) $ (0.64) $ (0.41)
========= ========= ========= =========
BASIC SHARES OUTSTANDING 15,051 14,781 14,889 14,733
DILUTED:
Income (loss) before extraordinary item $ 0.07 $ (0.16) $ (0.64) $ (0.38)
Effect of extraordinary item -- -- -- (0.03)
--------- --------- --------- ---------
Net income (loss) $ 0.07 $ (0.16) $ (0.64) $ (0.41)
========= ========= ========= =========
DILUTED SHARES OUTSTANDING 15,051 14,781 14,889 14,733
</TABLE>
The accompanying notes are an integral part of these consolidated statements.
3
<PAGE> 4
THE BON-TON STORES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
THIRTY-NINE
WEEKS ENDED
-----------
(In thousands) October 28, October 30,
(Unaudited) 2000 1999
----------- ---- ----
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (9,591) $ (6,042)
Adjustments to reconcile net loss to net cash used in
operating activities:
Depreciation and amortization 12,919 10,595
Proceeds from sale of accounts receivable, net (6,500) (5,000)
Changes in operating assets and liabilities, net (39,890) (40,256)
--------- ---------
Net cash used in operating activities (43,062) (40,703)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures, net (17,351) (34,723)
Proceeds from sale of property, fixtures and equipment 10 419
Payment for the acquisition of business, net of cash received -- (2,192)
--------- ---------
Net cash used in investing activities (17,341) (36,496)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on long-term debt and capital lease obligations (183,673) (181,617)
Proceeds from issuance of long-term debt 245,950 259,600
Exercised stock options 1 16
--------- ---------
Net cash provided by financing activities 62,278 77,999
Net increase in cash and cash equivalents 1,875 800
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 10,807 10,607
--------- ---------
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 12,682 $ 11,407
--------- ---------
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid $ 8,301 $ 6,027
Income taxes paid $ 7,620 $ 7,318
</TABLE>
The accompanying notes are an integral part of these consolidated statements.
4
<PAGE> 5
THE BON-TON STORES, INC. AND SUBSIDIARIES
The Bon-Ton Stores, Inc., a Pennsylvania corporation, was incorporated on
January 31, 1996 as the successor of a company established on January 31, 1929
and currently operates, as one business segment, 73 retail department stores
located in Pennsylvania, New York, New Jersey, Maryland, Connecticut,
Massachusetts, New Hampshire, Vermont and West Virginia.
1. BASIS OF PRESENTATION:
The accompanying unaudited consolidated financial statements include accounts of
The Bon-Ton Stores, Inc. and its wholly-owned subsidiaries (the "Company"). All
intercompany transactions and balances have been eliminated in consolidation.
The unaudited consolidated financial statements have been prepared in accordance
with the instructions for Form 10-Q and do not include all information and
footnotes required by generally accepted accounting principles. In the opinion
of management, all adjustments (primarily consisting of normal recurring
accruals) considered necessary for a fair presentation for interim periods have
been included. The Company's business is seasonal in nature and the results of
operations for the interim periods presented are not necessarily indicative of
the results for the full fiscal year. It is suggested these consolidated
financial statements be read in conjunction with the financial statements and
the notes thereto included in the Company's Annual Report on Form 10-K for the
fiscal year ended January 29, 2000 (the "1999 Annual Report").
2. RECLASSIFICATIONS:
Certain prior year balances have been reclassified to conform with the current
year presentation.
3. PER SHARE AMOUNTS:
The presentation of earnings per share (EPS) requires a reconciliation of the
numerators and denominators used in the basic and diluted EPS calculations. The
numerator, net income or loss, is identical in both calculations. The following
table presents a reconciliation of the shares outstanding for the respective
calculations for each period presented on the accompanying Consolidated
Statements of Operations:
<TABLE>
<CAPTION>
THIRTEEN THIRTY-NINE
WEEKS ENDED WEEKS ENDED
----------- -----------
October 28, October 30, October 28, October 30,
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
Basic Calculation 15,051,000 14,781,000 14,889,000 14,733,000
Dilutive Securities ---
Restricted Shares -- -- -- --
Options -- -- -- --
---------- ---------- ---------- ----------
Diluted Calculation 15,051,000 14,781,000 14,889,000 14,733,000
---------- ---------- ---------- ----------
Antidilutive shares and options ---
Restricted Shares 166,000 487,000 350,000 535,000
Options 1,171,000 1,283,000 1,324,000 1,288,000
</TABLE>
Antidilutive shares and options, consisting of restricted shares and options to
purchase shares outstanding, were excluded from the computation of dilutive
securities in the thirteen week period ended October 28, 2000 due to exercise
prices greater than the average market price. In addition, antidilutive shares
and options to purchase shares were excluded from the computation of dilutive
securities due to the Company's net loss position in the thirty-nine week period
ended October 28, 2000 and the thirteen week and thirty-nine week periods ended
October 30, 1999.
5
<PAGE> 6
THE BON-TON STORES, INC. AND SUBSIDIARIES
The following table reflects the approximate dilutive securities calculated
under the treasury stock method had the Company reported a profit for the
thirteen week period ended October 30, 1999 and the thirty-nine week periods
ended October 28, 2000 and October 30, 1999:
<TABLE>
<CAPTION>
THIRTEEN THIRTY-NINE
WEEKS ENDED WEEKS ENDED
----------- -----------
October 28, October 30, October 28, October 30,
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
Approximate Dilutive Securities ---
Restricted Shares -- 124,000 -- 98,000
Options -- 15,000 -- 32,000
Antidulitive Options 1,171,000 1,233,000 1,324,000 1,051,000
</TABLE>
Antidilutive options, options to purchase shares with exercise prices greater
than the average market price, were excluded from the above table.
4. UNUSUAL EXPENSE:
The Company recorded $6.5 million in unusual expenses related to announcements
made in June 2000. On June 9, 2000, the Company announced a workforce reduction
of 187 corporate and store personnel. The workforce reduction affected 137
employees and eliminated 50 unfilled positions. Additionally, on June 27, 2000,
the Company announced the early retirement of Heywood Wilansky, the Company's
President and Chief Executive Officer, and the realignment and elimination of
certain senior management positions. As of October 28, 2000, the remaining
accrual was $4.6 million.
6
<PAGE> 7
THE BON-TON STORES, INC. AND SUBSIDIARIES
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
RESULTS OF OPERATIONS
The following table summarizes the changes in selected operating indicators,
illustrating the relationship of various income and expense items expressed as a
percentage of net sales for each period presented:
<TABLE>
<CAPTION>
THIRTEEN THIRTY-NINE
WEEKS ENDED WEEKS ENDED
----------- -----------
October 28, October 30, October 28, October 30,
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
NET SALES 100.0% 100.0% 100.0% 100.0%
OTHER INCOME, NET 0.3 0.3 0.3 0.3
----- ----- ----- -----
100.3 100.3 100.3 100.3
===== ===== ===== =====
COSTS AND EXPENSES:
Costs of merchandise sold 63.0 63.2 63.9 63.5
Selling, general and administrative 32.0 35.6 34.0 35.2
Depreciation and amortization 2.7 2.5 2.7 2.3
Unusual expense -- -- 1.3 --
----- ----- ----- -----
INCOME (LOSS) FROM OPERATIONS 2.6 (1.0) (1.5) (0.6)
INTEREST EXPENSE, NET 1.7 1.3 1.7 1.3
----- ----- ----- -----
INCOME (LOSS) BEFORE INCOME TAXES 0.9 (2.3) (3.2) (2.0)
INCOME TAX EXPENSE (BENEFIT) 0.4 (0.9) (1.2) (0.8)
----- ----- ----- -----
INCOME (LOSS) BEFORE EXTRAORDINARY ITEM 0.6 (1.4) (2.0) (1.2)
EXTRAORDINARY ITEM - loss on early extinguishment of debt -- -- -- (0.1)
----- ----- ----- -----
NET INCOME (LOSS) 0.6% (1.4)% (2.0)% (1.3)%
===== ===== ===== =====
</TABLE>
THIRTEEN WEEKS ENDED OCTOBER 28, 2000 COMPARED TO THIRTEEN WEEKS ENDED OCTOBER
30, 1999
For the purposes of the following discussions, all references to "third quarter
of 2000" and "third quarter of 1999" are to the Company's thirteen week period
ended October 28, 2000 and October 30, 1999, respectively.
NET SALES. Net sales were $174.9 million for the thirteen weeks ended October
28, 2000, an increase of 3.8% over the same period last year. Comparable store
sales increased 1.4% for the period, with coats, misses sportswear, womens,
petites, juniors, home, accessories, cosmetics, shoes, mens
sportswear/furnishings and intimate achieving sales increases during the
quarter.
OTHER INCOME, NET. Net other income, which consisted mainly of income from
leased departments, remained constant at 0.3% of net sales in the third quarter
of 2000 compared to the third quarter of 1999.
COSTS AND EXPENSES. Gross profit, in the third quarter of 2000, increased $2.7
million compared to the third quarter of 1999, primarily reflecting the increase
in sales. Gross profit as a percentage of net sales increased 0.2 percentage
points to 37.0% for the thirteen week period ended October 28, 2000 from 36.8%
for the comparable period last year reflecting a reduction in promotional
activity in the third quarter of 2000.
Selling, general and administrative expenses for the third quarter of 2000 were
$56.0 million, or 32.0% of net sales, as compared to $60.0 million, or 35.6% of
net sales, in the third quarter of 1999. The decrease in the third quarter of
2000 was primarily attributable to the expense reduction initiatives implemented
in the second
7
<PAGE> 8
THE BON-TON STORES, INC. AND SUBSIDIARIES
quarter of 2000 and a reduction in pre-opening expenses of $2.1 million in the
third quarter of 2000 compared to the third quarter of 1999, partially offset by
the costs associated with operating new stores.
Depreciation and amortization increased to 2.7% of net sales in the third
quarter of 2000 compared to 2.5% in the third quarter of 1999. The increase was
primarily due to $46.5 million of fixed asset additions in fiscal 1999.
INCOME (LOSS) FROM OPERATIONS. Income from operations in the third quarter of
2000 amounted to $4.5 million, or 2.6% of net sales, compared to a loss from
operations of $1.7 million, or 1.0% of net sales, in the third quarter of 1999.
The Company sells receivables through its accounts receivable facility to
provide additional working capital. On a pro-forma basis, if the Company had
on-balance sheet financing, it would have reduced selling, general and
administrative expenses by $2.2 million in the third quarter of 2000 and $1.8
million in the third quarter of 1999. The lower selling, general and
administrative expenses would have been offset by a corresponding increase in
interest expense for both periods. The net result of the pro-forma
reclassification would reflect income from operations of $6.7 million in the
third quarter of 2000 and income from operations of $0.2 million for the third
quarter of 1999.
INTEREST EXPENSE, NET. Net interest expense increased $695,000 to 1.7% of net
sales in the third quarter of 2000 from $2.2 million, or 1.3% of net sales, in
the third quarter of 1999. The increase in interest expense was primarily
attributable to increased average borrowing levels and rates.
NET INCOME (LOSS). Net income in the third quarter of 2000 amounted to $1.0
million compared to a net loss of $2.4 million in the third quarter of 1999.
Due to the seasonal nature of the Company's business, the results for the
current period are not necessarily indicative of the results that may be
achieved for the full fiscal year of 2000.
THIRTY-NINE WEEKS ENDED OCTOBER 28, 2000 COMPARED TO THIRTY-NINE WEEKS ENDED
OCTOBER 30, 1999
For the purposes of the following discussions, all references to "2000" and
"1999" are to the Company's thirty-nine week period ended October 28, 2000 and
October 30, 1999, respectively.
NET SALES. Net sales were $483.4 million for the thirty-nine weeks ended October
28, 2000, an increase of 5.0% over the same period last year. Comparable store
sales decreased 0.5% for the period, with coats, cosmetics, womens, petites,
home, accessories, mens sportswear/furnishings and misses sportswear achieving
sales increases.
OTHER INCOME, NET. Net other income, which consisted mainly of income from
leased departments, remained constant at 0.3% of net sales in 2000 and 1999.
COSTS AND EXPENSES. Gross profit in 2000 increased $6.7 million compared to
1999, reflecting the increase in sales. Gross profit as a percentage of net
sales decreased 0.4 percentage points to 36.1% for the thirty-nine week period
ended October 28, 2000 from 36.5% for the comparable period last year primarily
reflecting increased promotional activity in the form of markdowns during the
first six months of 2000.
Selling, general and administrative expenses for 2000 were $164.2 million, or
34.0% of net sales, as compared to $161.8 million, or 35.2% of net sales, in
1999. The increase of $2.4 million in 2000 was primarily attributable to the
costs associated with operating seven new stores, including additional payroll
costs, rent expense, utilities and insurance costs, partially offset by a
reduction in corporate expenses
8
<PAGE> 9
THE BON-TON STORES, INC. AND SUBSIDIARIES
attributable to the expense initiatives implemented in the second quarter of
2000 and a reduction in pre-opening expenses of $3.0 million in 2000 as compared
to 1999.
Depreciation and amortization increased to 2.7% of net sales in 2000 from 2.3%
of net sales in 1999. The increase was primarily due to the addition of $46.5
million of new assets in fiscal 1999.
Unusual expense of $6.5 million was incurred in the second quarter of 2000
relating to the early retirement of Mr. Heywood Wilansky as President and Chief
Executive Officer, the realignment and elimination of certain senior management
positions and headcount reduction initiatives implemented by the Company.
LOSS FROM OPERATIONS. The loss from operations in 2000 amounted to $7.4 million,
or 1.5% of net sales, compared to a loss from operations of $3.0 million, or
0.6% of net sales, in 1999.
The Company sells receivables through its accounts receivable facility to
provide additional working capital. On a pro-forma basis, if the Company had
on-balance sheet financing, it would have reduced selling, general and
administrative expenses by $6.6 million in 2000 and $5.4 million in 1999. The
lower selling, general and administrative expenses would have been offset by a
corresponding increase in interest expense for both periods. The net result of
the pro-forma reclassification would reflect a loss from operations of $0.9
million in 2000 and income from operations of $2.4 million in 1999.
INTEREST EXPENSE, NET. Net interest expense increased to $8.1 million, or 1.7%
of net sales, in 2000 from $6.2 million, or 1.3% of net sales, in 1999. The
increase was primarily attributable to higher average borrowing levels and
rates.
EXTRAORDINARY ITEM. The Company amended its revolving credit facility on April
7, 1999 (see Note 2 of the 1999 Annual Report). As a result of this transaction,
the Company incurred an extraordinary charge of $0.4 million, net of a $0.2
million income tax benefit, in 1999.
NET LOSS. The net loss in 2000 amounted to $9.6 million compared to a net loss
of $6.0 million in 1999.
Due to the seasonal nature of the Company's business, the results for the
current period are not necessarily indicative of the results that may be
achieved for the full fiscal year of 2000.
LIQUIDITY AND CAPITAL RESOURCES
The Company's working capital requirements are currently met through a
combination of cash, borrowings under its revolving credit facility and proceeds
from its accounts receivable facility.
The following table summarizes material measures of the Company's liquidity and
capital resources:
<TABLE>
<CAPTION>
October 28, October 30,
(Dollars in millions) 2000 1999
--------------------- ---- ----
<S> <C> <C>
Working capital $189.7 $176.6
Current ratio 2.53:1 2.29:1
Funded debt to total capitalization 0.48:1 0.47:1
Unused availability under lines of credit $33.4 $36.1
</TABLE>
9
<PAGE> 10
THE BON-TON STORES, INC. AND SUBSIDIARIES
For the thirty-nine weeks ended October 28, 2000, net cash used in operating
activities amounted to $43.1 million as compared to net cash used of $40.7
million for the comparable period last year. The increase in net cash used in
2000 as compared to 1999 was primarily attributable to an increase in the
Company's loss and increased working capital requirements, partially offset by
the non-cash portion of the unusual expense recorded in the second quarter of
2000. The increase in working capital requirements primarily reflects the
increase in the number of stores and sales in fiscal 2000 compared to fiscal
1999.
Net cash used in investing activities amounted to $17.3 million in 2000 compared
to $36.5 million for the comparable period last year. The decrease in net cash
used for the thirty-nine week period ended October 28, 2000 primarily reflects a
reduction in capital expenditures.
Net cash provided by financing activities amounted to $62.3 million for 2000
compared to $78.0 million for the comparable period of 1999. The decrease in
cash provided by financing activities in 2000 was primarily attributable to
increased payments on the Company's long-term debt and decreased advances from
the Company's revolving credit facility.
The Company anticipates its cash flows from operations, supplemented by
borrowings under its revolving credit facility and proceeds from its accounts
receivable facility will be sufficient to satisfy its operating cash
requirements.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The Company does not believe its interest rate risks, as described in the 1999
Annual Report, have changed materially.
"SAFE HARBOR" STATEMENT
Certain information included in this report and other materials filed or to be
filed by the Company with the Securities and Exchange Commission 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," "will," "plan," "expect," "anticipate,"
"estimate," "project," "intend" or other similar expressions, involve important
risks and uncertainties that could significantly affect anticipated 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. These risks and
uncertainties include, but are not limited to, uncertainties affecting retail in
general, such as consumer confidence and demand for soft goods; risks relating
to leverage and debt service; competition within markets in which the Company's
stores are located; and the need for, and costs associated with, store
renovations and other capital expenditures.
PART II: OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
There have been no material developments in any legal proceedings since the
Company's disclosure in its 1999 Annual Report.
10
<PAGE> 11
THE BON-TON STORES, INC. AND SUBSIDIARIES
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) The following exhibits are filed pursuant to the requirements of Item 601 of
Regulation S-K:
Exhibit No. Description
27 Financial Data Schedule
(b) Reports on Form 8-K filed during the quarter.
None.
11
<PAGE> 12
THE BON-TON STORES, INC. AND SUBSIDIARIES
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE BON-TON STORES, INC.
DATE: December 11, 2000 BY: /s/ Michael L. Gleim
----------------------- ---------------------------------
Michael L. Gleim
Vice Chairman and
Chief Operating Officer
DATE: December 11, 2000 BY: /s/ James H. Baireuther
----------------------- ---------------------------------
James H. Baireuther
Executive Vice President and
Chief Financial Officer
12
