Home / Knowledge / News / Apparel/Garments / Apparel retailer Bebe Stores reduces net loss in FY14
Apparel retailer Bebe Stores reduces net loss in FY14
09
Sep '14
In its fiscal year ending July 5, 2014 Bebe stores, a retailer of women’s apparel was able to reduce its losses by $9.7 million or 14.1%, when compared with the previous fiscal year ending July 6, 2013.

Net loss from continuing operations for fiscal year 2014 was $59.3 million, or a negative $0.75 per share, compared to net loss of $69.1 million, or negative $0.84 per share in the prior fiscal year.

Included in loss from continuing operations for fiscal 2014 was $6.6 million in impairment charges, $4.0 million related to reduction in work force and transition costs, and $1.8 million in professional fees and transition charges for a full year impact of $12.4 million.

Bebe Stores said excluding the impact of these charges, net loss from continuing operations was $46.8 million or $0.59 per share for fiscal 2014.

Net sales from continuing operations for fiscal year 2014 totalled $425.1 million, down 8.2% from $463.2 million for fiscal year 2013, which Bebe said, included an extra retail week.

Comparable store sales for fiscal year 2014 fell by 3.2% compared to a decrease of 9.6% in the prior year.

Cash and investments as on July 5, 2014 stood at $125 million, while average finished goods inventory per square foot increased approximately 8.6% compared to the prior year.

Capital expenditures for fiscal year 2014 touched $23.0 million and depreciation expense reached $18.4 million from continuing operations.

For the first quarter of fiscal 2015, Bebe Stores expects comparable store sales to be in the negative low single digit to flat range.

It also expects gross margin to be lower than the prior year due to higher markdowns in the beginning of the quarter to clear through excess inventory and deleveraging of certain fixed costs.

The retailer also forecasts net loss per share to be in the high teens. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

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

Kerem Durdag
Biovation II LLC

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do 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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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