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Bebe Cites 24% 4Q Sales Drop

(Filed Under Financial and General Interest News). On August 27th, Bebe Stores, Inc. reported net sales during the fourth quarter ended July 4th, 2009 of $130.2 million, a 24 percent drop from sales of $171.5 million during last year’s fourth quarter. Same-store sales plunged 29.6 percent compared to a decrease of 5.6 percent last year. Operating loss for the quarter was $4.5 million, or 3.4 percent of net sales, compared to operating income of $20.5 million, or 11.9 percent of net sales.

Net sales for the year-to-date period ended July 4th, 2009 dropped 12 percent, to $603 million from $687.6 million. Same store sales for the year-to-date period dropped 20.9 percent compared to 7.6 percent.

During fiscal 2010, Bebe Stores, Inc. expects to close six Bebe store, expand one, and close up to 13 resulting in a square footage reduction of approximately 1 percent. Among those stores the company plans to close are four Bebes, one 2b Bebe and eight Bebe Sports. As previously announced, the company plans to gradually close all 61 of its Bebe Sport stores, and replace some with its new activewear concept, PH8.

Bebe Stores, Inc. currently operates 307 stores including 211 Bebe stores, 34 2b Outlet stores, 61 Bebe Sport stores and one Bebe accessories store.

more Financial and General Interest News >>

Published 09-08-2009 by Amanda Torres Price

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