As Bon-Ton Stores Inc. (York, Pa.) continues to negotiate with its debt holders after failing to make its $14 million interest payment by Dec. 15, 2017, the department store chain has uncovered its plans to turn its struggling business around.
Its upcoming initiatives for 2018 through 2019 key in on improving the brand in four focus areas, including its store portfolio; merchandising, planning and allocation; marketing; and capital investment, according to Women’s Wear Daily. The plan will also look ahead to 2020 to incorporate the impact of the initiatives for a long-term approach.
The retailer admits the plan needs more fine-tuning, and at this point there’s no telling what investors think of it, but overall, Bon-Ton expects the merchandising and marketing initiatives to grow revenue and gross margin, new store openings and remodels to certain flagships. It currently operates 260 locations across 24 states.