The Bon-Ton Stores, Inc. reported unaudited consolidated earnings results for fourth quarter and year ended January 28, 2017. For the quarter, the company's net sales were $877,283,000 against $927,922,000 a year ago. Total income was $900,041,000 against $950,359,000 a year ago. Income from operations was $62,046,000 against $66,957,000 a year ago. Income before income tax was $43,577,000 against $49,297,000 a year ago. Net income was $44,717,000 against $50,576,000 a year ago. Basic and diluted income per share was $2.09 against $2.42 a year ago. Adjusted EBITDA was $101,638,000 against $93,973,000 a year ago.

For the year, the company's net sales were $2,600,592,000 against $2,717,691,000 a year ago. Total income was $2,674,351,000 against $2,789,497,000 a year ago. Income from operations was $2,571,000 against $9,826,000 a year ago. Loss before income tax was $65,005,000 against $58,928,000 a year ago. Net loss was $63,419,000 against $57,053,000 a year ago. Basic and diluted loss per share was $3.18 against $2.90 a year ago. Net cash provided by operating activities was $58,964,000 against $17,822,000 a year ago. Capital expenditures were $54,621,000 against $84,675,000 a year ago. Adjusted EBITDA was $115,997,000 against $109,486,000 a year ago.

The company recorded non-cash asset impairment charges of $16.7 million in the fourth quarter of fiscal 2016 related to reductions in the reported carrying value of certain long-lived and intangible assets, compared with $3.2 million of similar charges in the fourth quarter of fiscal 2015.

For fiscal 2017, the company expects loss per diluted share to be in a range of $2.08 to $2.59, inclusive of a $0.05 expense from the 53rd week, and adjusted EBITDA to be in a range of $115 million to $125 million. Assumptions reflected in full-year guidance include: A comparable sales decrease ranging from 2.0% to 3.0%, which excludes sales from the 53rd week; a gross margin rate increase of 10 to 20 basis points over the fiscal 2016 rate of 35.5%; Capital expenditures not to exceed $30 million, net of external contributions; and an estimated 20.3 million weighted average shares outstanding. The company expects to decrease debt by approximately $20 million to $30 million by the end of fiscal 2017.