Home / Knowledge / News / Apparel/Garments / Apparel retailer Bebe Stores reports flat Q4FY15 sales
Apparel retailer Bebe Stores reports flat Q4FY15 sales
01
Sep '15
For the fourth fiscal quarter ended July 4, 2015, net sales were flat over the fiscal ago period at US apparel retailer Bebe stores.

In a press release, Bebe Stores said its net sales were $104.3 million for the fourth quarter of fiscal 2015, an increase of 0.7 per cent from $103.6 million reported for the fourth quarter of last fiscal.

Comparable store sales for the quarter ended July 4, 2015, rose 1.1 per cent compared to a decrease of 1.9 per cent in the comparable period of the prior fiscal.

Gross margin as a percentage of net sales drove up to 34.8 per cent as against 30.9% in the same quarter of earlier fiscal.

“The improvement in margin was primarily the effect of higher average unit retail, partly driven by fewer promotions and markdowns coupled with better leverage from occupancy costs,” the retailer explained.

SG&A expenses for the reporting quarter were also down at $41.3 million, or 39.6 per cent of net sales versus $56.1 million, or 54.2 per cent of net sales, for the fourth quarter of fiscal 2014.

The company attributed the decrease to a $5.4 million reduction in compensation expense reflecting the effects of savings from restructuring activities.

Advertising expense contributed $3.7 million to the decline as it became more selective in the use of advertising dollars.

The fourth quarter of the prior fiscal was also impacted by store closure and impairment and closure related charges of $4.1 million.

Loss from continuing operations for the fourth quarter of fiscal 2015 was $5.5 million, or $0.07 per share, on 79.6 million shares outstanding.

This compares with a loss of $24.2 million, or $0.30 per share, on 79.5 million diluted shares outstanding for the same period of the previous fiscal.

Included in loss from continuing operations for the quarter were certain incremental costs totaling $1.2 million including charges related to cyber breach and store impairment.

Excluding the impact of these charges, loss from continuing operations was $4.3 million, or $0.05 per share, for the fourth quarter of fiscal 2015.

Including income from discontinued operations of $0.3 million, net loss for the fourth quarter of fiscal 2015 was $5.2 million, or $0.07 per share.

Including a loss from discontinued operations of $10.3 million, net loss for the corresponding quarter of earlier fiscal was $34.5 million, or $0.43 per share.

During the quarter ended July 4, 2015, the retailer closed three Bebe stores and opened one outlet store.

CEO Jim Wiggett said, “In fiscal 2015 we improved our operating results by $35 million or 58 per cent compared to the prior fiscal.

“In the fourth quarter, we achieved our fourth consecutive quarter of comparable store sales growth, in addition to improved gross margin and continued SG&A expense reduction,” he added.

“In addition, we maintained our focus on improving our merchandise offering to appeal to the lifestyle needs, by refining our brand message and building upon our omni-channel capabilities,” Wigget informed. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search