Bebe Stores, Inc. Announces Sales Results for the Second Quarter and Year to Date Ended December 29, 2012; Revised Earnings Guidance for the Second Quarter Ended December 29, 2012
January 03, 2013 at 07:00 am
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Bebe Stores, Inc. announced sales results for the second quarter and year to date ended December 29, 2012. For the quarter, the company reported retail sales of $124.6 million, a decrease of 11.7% compared to $141.1 million for the fiscal quarter ended December 31, 2011. The decrease was primarily driven by a 15% comparable store traffic decrease during the quarter, with December being the most negative. Comparable store sales for the fiscal quarter ended December 29, 2012 decreased 10.5% compared to an increase of 9.6% in the second fiscal quarter of the prior year. Comparable store sales were negatively impacted by approximately 2% due to the shift of the New Year's Eve into fiscal January as well as Hurricane Sandy.
Retail sales for the year-to-date period ended December 29, 2012 were $229.7 million, a decrease of 10.7% compared to $257.1 million for the year-to-date period ended December 31, 2011. Comparable store sales for the year-to-date period ending December 29, 2012 decreased 9.7% compared to an increase of 8.4% for the year-to-date period ending December 31, 2011.
For the quarter, the company currently anticipate the net loss will be at or below the lower end of previously provided guidance of $0.01 per share prior to certain one-time costs such as store impairment and write-off charges, recruiting expenses as well as other potential settlement costs.
bebe stores, inc. is primarily engaged in the business of operating retail rent-to-own franchise stores. The Company's rent-to-own Buddy's franchise stores offer furniture, appliances, and consumer electronics to consumers through rent-to-own agreements. The Company leases space for all of its Buddy's franchise stores under operating leases. It offers various product categories, including Featured, New, Clothing, Dresses, Denim, Shoes, and Accessories. Its Featured category includes Bandage Dresses, Bridal, Fall, and Halloween, among others. Its Clothing category includes Tops, Bottoms, Denim, Jackets, and Activewear, among others. Its Dresses category consists of Bandage Dresses, Bodycon Dresses, Denim Dresses, Little Black Dresses, Logo Dresses, Mini Dresses, Midi Dresses, Maxi Dresses, and others. Its Accessories include Bags, Belts, Hats, Shoes, Sunglasses, Watches. The Company operates approximately 64 stores in 12 states in the southeastern United States.
Bebe Stores, Inc. Announces Sales Results for the Second Quarter and Year to Date Ended December 29, 2012; Revised Earnings Guidance for the Second Quarter Ended December 29, 2012