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Bon-Ton Stores CEO to leave company next year

Written by The Associated Press | Mar 12, 2014 6:41 AM
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(York) -- Bon-Ton Stores CEO Brendan Hoffman plans to step down next year, after the department store reported falling profit and sales for the fourth quarter.

Hoffman, the one-time CEO at Lord & Taylor, will also resign from the board as well. He is leaving for personal reasons.

Like other retailers, York-based Bon-Ton says nasty winter weather kept shoppers away from stores around the crucial holiday season.

Net income for the quarter ending February 1st fell to $61.3 million, or $3.04 per share. That's well short of the $2.83 that Wall Street was looking for, and a decline from last year when the company posted net income of $74.4 million, or $3.71 per share.

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