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bebe stores announces fiscal fourth quarter results
08
Jul '11
bebe stores inc reported retail sales from continuing operations of $122.4 million for the fourth quarter ended July 2, 2011, an increase of 7.3% compared to $114.1 million for the fiscal quarter ended July 3, 2010. Same store sales for the fiscal quarter ended July 2, 2011 increased 7% compared to a decrease of 3.4% in the prior year.

Retail sales from continuing operations for the year-to-date period ended July 2, 2011 were $460.1 million, an increase of 1.6% compared to $453.0 million for the year-to-date period ended July 3, 2010. Comparable store sales for the year-to-date period ending July 2, 2011 increased 0.4% compared to a decrease of 17.1% for the year-to-date period ending July 3, 2010.

As of July 2, 2011, average finished goods inventory per square foot from continuing operations increased approximately 1.2% compared to the prior year.

Beginning in fiscal 2012, the Company will report comparable store sales results inclusive of our on-line store. The Company believes that given the similar nature and process of the inventory planning, allocation and return policy for the on-line store and all other retail stores, the inclusion of the on-line store is a more meaningful way of reporting the Company's comparable store sales results.

In addition, the Company has been implementing cross-channel marketing initiatives, which benefit all retail sales, including our on-line store. Comparable store sales for fiscal year 2011 and 2010, inclusive of the on-line store sales, would have increased by 0.2% and 0.6% respectively.

For the quarter, we currently anticipate net earnings from continuing operations will be at the high end of our previously provided guidance of $0.01 - $0.04 per share prior to any store impairment charges and settlement costs.

bebe stores inc

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