Home / Knowledge / News / Apparel/Garments / bebe stores Q3 FY'13 sales fall 6.7%
bebe stores Q3 FY'13 sales fall 6.7%
10
May '13
bebe stores, inc. announced unaudited financial results for the third quarter ended April 6, 2013.

Net sales for the third quarter of fiscal 2013, including the extra retail week in January, were $112.9 million, a decrease of 6.7% from $121.0 million reported for the third quarter a year ago. As previously reported, comparable store sales for the quarter ended April 6, 2013, excluding the extra retail week in January, decreased 8.6% compared to an increase of 7.2% in the comparable period of the prior year.

Gross margin as a percentage of net sales decreased to 29.7% in the third quarter of fiscal 2013, compared to 38.7% in the third quarter of fiscal 2012. The decrease in gross margin as a percentage of net sales was primarily due to a significant increase in markdowns coupled with unfavorable occupancy leverage.

SG&A expenses were $52.2 million, or 46.2% of net sales, compared to $47.2 million, or 39.0% of net sales, for the same period in the prior year. The dollar increase in SG&A expenses was primarily driven by certain costs totaling $4.8 million which include store impairment charges, costs related to hiring of a new CEO, rebranding agency costs, as well as other transition related recruiting and severance costs.

In the third quarter of fiscal 2013, the Company recorded a non-cash provision for income taxes of $31.4 million to establish a valuation allowance against its net deferred income tax assets as well as to recognize the fiscal 2013 year to date impact of establishing the valuation allowance.

Although the Company generated taxable income from continuing operations for the past three fiscal years through the third quarter, the Company will likely be in a three-year cumulative loss position at the end of fiscal year 2013. Accounting rules require the Company to record a valuation allowance.

The valuation allowance has no impact on our ability to utilize loss carry forwards or tax assets in the future, and is not a reflection of our point of view about increasing the profitability of the business in the future. This allowance reduced the current quarter’s diluted EPS by $0.39 per share.

Net loss for the third quarter of fiscal 2013 was $49.3 million, or $0.62 per diluted share, on 80.1 million shares outstanding compared to net loss of $0.2 million, or $0.00 per share, on 84.3 million shares outstanding for the same period of the prior year. Non-GAAP1 adjusted net loss in the third quarter of 2013, excluding the aforementioned non-cash deferred tax asset valuation allowance was $11.6 million, or $0.14 per diluted share.

Net sales for the year-to-date period ended April 6, 2013 were $365.5 million, a decrease of 8.5% from $399.3 million for the year-to-date period ended March 31, 2012. Comparable store sales for the year-to-date period ended April 6, 2013 decreased 9.3% compared to an increase of 8.1% in the prior year.


Must ReadView All

Textiles | On 19th Sep 2017

Karl Mayer expands service operations in Asia

Karl Mayer, a world leader in the production of warp knitting and...

Textiles | On 19th Sep 2017

Welspun bags Made in Green label by Oeko-Tex

Welspun, a leading home textiles manufacturer, has been awarded Made...

Courtesy: SGS

Textiles | On 19th Sep 2017

SGS expands testing facilities in Naucalpan, Mexico

SGS has expanded testing facilities in Naucalpan, Mexico, creating a...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search