Home / Knowledge / News / Apparel/Garments / Q2FY15 sales up 4.6% at apparel retailer Bebe Stores
Q2FY15 sales up 4.6% at apparel retailer Bebe Stores
11
Feb '15
For the second fiscal quarter ended January 3, 2015, sales from continuing operations were up 4.6 per cent from the year ago quarter at apparel retailer and NASDAQ listed, Bebe Stores.

Net sales from continuing operations increased 4.6 per cent to $128.9 million, as compared to $123.3 million in the second quarter of fiscal 2014.

Comparable store sales from continuing operations for the quarter ended January 3, 2015 rose higher by 8.0 per cent as against a decline of 2.6 per cent in the same period of the prior year.

Bebe attributed the growth to increased average unit retail resulting from improved full price sell-through of its fall and holiday product offerings in both the Bebe and outlet businesses.

Comparable store sales increased sequentially compared to the first quarter of fiscal 2015, marking the second consecutive quarter of positive comparable store sales for the company.

Gross margin from continuing operations as a percentage of net sales improved to 37.2 per cent from 34.1 per cent in the second quarter of fiscal 2014.

“The margin hike primarily reflects fewer markdowns on merchandise sold during the quarter, partially offset by increased promotions of aged product in Bebe outlet stores and on flash sale site,” the retailer explained.

SG&A expenses from continuing operations touched $47.8 million in the quarter under review or 37.1 per cent of net sales compared to $46.5 million or 37.7 per cent of net sales in prior year quarter.

Bebe said, SG&A for the second quarter was impacted by $1.4 million of costs including severance expense, cyber breach related costs and store impairment and closure charges.

Net loss and loss per share from continuing operations for the second quarter of fiscal 2015 were breakeven based on 79.6 million shares outstanding.

This compares with a net loss of $4.4 million, or $0.06 per share, based on 79.1 million shares outstanding for the same period of the prior year.

Included in loss from continuing operations for the second quarter of fiscal 2015 were the aforementioned $1.4 million costs.

Excluding the impact of these charges, net income from continuing operations was $1.4 million, or $0.02 per share, for the second quarter of fiscal 2015

Including a loss from discontinued operations of $0.4 million, net loss for the second quarter of fiscal 2015 was $0.4 million, representing breakeven earnings per share.

Including a loss from discontinued operations of $1.1 million, net loss for the second quarter of fiscal 2014 was $5.5 million, or $0.07 per share.

“Loss from discontinued operations during the second quarter of both years reflects the operating results of the 2b business, which was shut down on July 5, 2014,” Bebe observed.

It added, “For the second quarter of fiscal 2015, the loss in the discontinued operations is primarily related to additional lease termination costs based on landlord negotiations.”

Fibre2fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Mike Hoffman
Gildan Activewear SRL

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search