ENP Newswire -
Release date- 06022014 -
For the second quarter of fiscal 2014:
Net sales were
Gross margin decreased to 33.6% compared to 33.9% 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
For the year-to-date period ending
Net sales for the year-to-date period ended
Net loss for the year-to-date period ended
Balance sheet summary:
Cash and investments at
Capital expenditures for the fiscal year-to-date period were
Third quarter fiscal 2014 guidance:
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% 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% decrease in total store square footage from the end of fiscal year 2013.
Webcast and Conference call information:
A live audio webcast of bebe stores, inc. second quarter fiscal 2014 earnings release call will be available today at https://event.webcasts.com/starthere.jsp?ei=1028096. The call begins today at
The financial results and live webcast will be accessible through the Investor Relations section of the Company's website at www.bebe.com.
To access the call through a conference line, dial 1-866-893-0531. A replay of the call will be available for approximately one week by calling 1-855-859-2056 and entering in conference ID number 90547949. A link to the audio replay will be available on our web site at www.bebe.com following the conference call.
Certain statements in this release are 'forward-looking statements' made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected The statements in this news release, 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
About bebe stores, Inc.:
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 stores, inc.
UNAUDITED SELECTED BALANCE SHEET DATA Available at:
bebe stores, inc.
Chief Financial Officer
Most Popular Stories
- 5 Notable Hispanic Technology Executives
- Top Hispanic Tech Companies Push for the Top
- Rand Paul Tops Presidential Straw Poll at Conservative PAC Conference
- Tesla's Alt-Energy Future Aims for Massive Lithium-Ion Battery Production
- New Chat App, Yik Yak, Causes Problems for Students
- China Urges Malaysia Flight Emergency Response
- Gas Prices May Jump from Calif. Emissions Law
- Visa, MasterCard Team Up to Focus on Payment Security
- Russia, Crimea Discuss Referendum
- Obama Meets with Ukraine Prime Minister Wednesday