(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.
Support for WITF is provided by:
Support for witf is provided by: