bebe stores, inc. Announces Fiscal Fourth Quarter 2013 Retail Sales
bebe stores, inc. (Nasdaq: BEBE) today reported retail sales of $109.0
million for the fourth fiscal quarter ended July 6, 2013, a decrease of
8.5% compared to $119.1 million for the fiscal quarter ended June 30,
2012. As a reminder, bebe total sales, which will be disclosed in our
earnings release, also include international wholesale and other sales
in addition to the retail sales released herein.
Comparable store sales for the fiscal quarter ended July 6, 2013
decreased 7.1% compared to a decrease of 2.5% in the fourth fiscal
quarter of the prior year. The decrease was primarily driven by the
negative comparable store traffic during the quarter, with April being
the most negative.
Retail sales for the fiscal year ended July 6, 2013 were $442.8 million,
a decrease of 8.6% compared to $484.2 million for the fiscal year ended
June 30, 2012. Comparable store sales for the fiscal year ending July 6,
2013 decreased 8.8% compared to an increase of 5.3% for the fiscal year
ending June 30, 2012.
As of July 6, 2013, average finished goods inventory per square foot
increased approximately 3.1% compared to the prior year. During the
quarter, the Company increased promotional activities in order to
continue to clear through previously committed unproductive inventory.
While this negatively impacted merchandise margin, the Company made
progress in working through legacy merchandise to ensure a clean
inventory position for the fall season.
Beginning in fiscal 2014, the Company will discontinue quarterly retail
sales reporting. Sales and earnings will be reported in conjunction with
the quarterly earnings announcement.
bebe stores, inc. provides additional information on a recorded message.
Interested parties are invited to listen to the message by calling
1-877-232-3757.
bebe stores, inc. will host a conference call on Thursday, August 29,
2013 at 1:30 P.M. Pacific Time to discuss fourth quarter results.
Interested parties are invited to listen to the conference by calling
1-866-893-0531. A replay of the call will be available for approximately
one week by calling 855-859-2056 and enter conference ID#38278164. A
link to the audio replay will be available on our web site at www.bebe.com
following the conference call.
In addition, bebe stores, inc. will host an Analyst and Investor Day
in New York on Thursday, September 12, 2013 at 2:00 p.m. to 5:00 p.m.
ET. Interested parties please RSVP prior to August 16, 2013. A
link to the presentation deck and the webcast will be available at www.bebe.com
for thirty days thereafter.
bebe stores, inc. is a global specialty retailer, which designs,
develops and produces a distinctive line of contemporary women’s apparel
and accessories under the bebe, BEBE SPORT, bbsp and 2b bebe brand
names. bebe currently operates 240 stores, of which 188 are bebe stores,
including the on-line store bebe.com, and 52 are 2b bebe stores,
including the on-line store 2bstores.com. These stores are located in
the United States, U.S. Virgin Islands, Puerto Rico and Canada. bebe
also distributes and sells bebe branded product through its licensees in
approximately 25 countries.
The statements in this news release and on our recorded message, other
than the historical financial information, contain forward-looking
statements that involve risks and uncertainties that could cause actual
results to differ from anticipated results. Wherever used, the words
“expect,” “plan,” “anticipate,” “believe” and similar expressions
identify forward-looking statements. Any such forward-looking statements
are subject to risks and uncertainties and the company's future results
of operations could differ materially from historical results or current
expectations. Some of these risks include, without limitation,
miscalculation of the demand for our products, effective management of
our growth, decline in comparable store sales performance, ongoing
competitive pressures in the apparel industry, changes in the level of
consumer spending or preferences in apparel, loss of key personnel,
difficulties in manufacturing, disruption of supply, adverse economic
conditions, and/or other factors that may be described in the company's
annual report on Form 10-K and/or other filings with the Securities and
Exchange Commission. Future economic and industry trends that could
potentially impact revenues and profitability are difficult to predict.
Copyright Business Wire 2013