Home / Knowledge / News / Apparel/Garments / Bebe Stores Q3'FY14 net sales fall 17.2% to $93.5mn
Bebe Stores Q3'FY14 net sales fall 17.2% to $93.5mn
13
May '14
bebe stores, inc. announced unaudited financial results for the fiscal third quarter ended April 5, 2014.
 
Highlights:
-Third quarter comparable store sales decreased 5.7%
-Third quarter net sales were $93.5 million
-Third quarter net loss per share of $(0.31) including $(0.04) per share of impairment charges
 
For the third quarter of fiscal 2014:
Net sales were $93.5 million, a decrease of 17.2% from $112.9 million for the third quarter a year ago. Comparable store sales for the quarter ended April 5, 2014 decreased 5.7%. The sales decrease was due partially to one fewer retail week in January in the current fiscal year coupled with the closure of 19 unproductive stores since the prior year third fiscal quarter. 
 
The Company’s sales results were also negatively impacted by extreme weather throughout the fiscal third quarter this year with up to 136 weather-related temporary store closures. In addition, the Company believes that the timing of Easter in late April had a greater than expected negative impact on sales in the quarter, specifically in the outlet locations. Comparable store sales and traffic in outlet stores were down in the mid-teens for the quarter.
 
Gross margin decreased to 27.1% compared to 29.7% in the third quarter of fiscal 2013. The decrease in gross margin was primarily due to deleveraging of sales. While we have experienced an increased level of promotions in response to the challenging retail environment, merchandising margin was 50 basis points higher than the third fiscal quarter of the prior year.
 
SG&A expenses were $49.7 million, or 53.1% of net sales, compared to $52.2 million, or 46.2% of net sales, for the same period in the prior year. The SG&A expenses in the third quarter of fiscal 2014 reflect $2.9 million of store impairment charges. The SG&A expenses in the prior year third quarter included $4.8 million costs related to hiring of a new CEO, store impairment charges, rebranding agency costs, as well as other transition related recruiting and severance costs.
 
Net loss for the third quarter of fiscal 2014 was $24.3 million, or $0.31 per share, on 79.3 million shares outstanding compared to a net loss of $49.3 million, or $0.62 per share, on 80.1 million shares outstanding for the same period of the prior year. Note that the fiscal 2014 net loss reflects the continuing impact of maintaining a valuation allowance against deferred tax assets, which was recorded in the third quarter of the prior year in the amount of $31.4 million or $0.39 per share. 
 
Click here to view full results.
 

bebe stores

Must ReadView All

Courtesy: conservativehome.com

Textiles | On 24th Jun 2016

Britain set to leave EU; India prepared for consequences

Britain is set to be the first country to leave the EU since its...

Apparel/Garments | On 24th Jun 2016

TEA appeals to PM to forge FTA with Britain

On the heels of Britain voting to exit the European Union, the...

Textiles | On 24th Jun 2016

Now, govt tries to link textiles sector with tourism

The government has said concrete steps are being taken to set up...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

Which chemicals are likely to dominate the sustainable textiles industry?...

Milind Khandwe
Hindoostan Innovation Centre

Which areas of innovation is the Hindustan Innovation Centre (HIC) focused ...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

What is the influence of foreign trends and designs on Indian fashion?

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Tony Ward
Tony Ward

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search