bebe stores, inc. announced unaudited financial results for the fiscal second quarter ended In a release on
Gross margin decreased to 33.6 percent compared to 33.9 percent in the second quarter of fiscal 2013. The decrease in gross margin was primarily due to an increase in markdowns to clear through legacy products as well as heightened promotional activities throughout the holiday season.
SG&A expenses were
During the quarter ended
Net sales for the year-to-date period ended
Net loss for the year-to-date period ended
Cash and investments at
Capital expenditures for the fiscal year-to-date period were
For the third quarter of fiscal 2014, the Company expects comparable store sales to be flat. Gross margin is expected to be higher than the prior year. We expect net loss per share for the third quarter to be in the mid-teens range, which is outperforming the third quarter of the prior year. The expected loss per share range also reflects the continuing impact of maintaining a valuation allowance against deferred tax assets or a close to 0 percent effective tax rate.
Finished goods inventory per square foot as of the end of fiscal third quarter 2014 is anticipated to decrease in a low single digit range.
Total capital expenditures for the year are anticipated to be approximately
For the remainder of fiscal year 2014, the Company plans to close up to six bebe stores and one 2b bebe store, which will result in approximately an 8 percent decrease in total store square footage from the end of fiscal year 2013.
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,
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bebe stores, inc. announced unaudited financial results for the fiscal second quarter ended
In a release on