Home / Knowledge / News / Apparel/Garments / Apparel retailer Bebe Stores halves Q3FY15 net loss
Apparel retailer Bebe Stores halves Q3FY15 net loss
11
May '15
Net loss from continuing operations for the third fiscal quarter ended April 4, 2015 more than halved at NASDAQ listed and US apparel retailer Bebe Stores.

Bebe Stores said in the third quarter of fiscal 2015, net loss from continuing operations totaled $10.9 million, or $0.14 per share as against net loss of $22.8 million, or $0.29 per share in the prior fiscal third quarter.

“Included in loss from continuing operations for the third quarter of fiscal 2014 were $3.4 million costs,” the clothing retailer added in a press release.

Including a loss from discontinued operations of $0.4 million, net loss for the third quarter of fiscal 2015 was $11.2 million, representing $0.14 loss per share.

Loss from discontinued operations during the third quarter of both fiscals reflects the operating results of the 2b business, which was shut down on July 5, 2014.

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

Net sales from continuing operations increased 4.1 per cent to $92.7 million, as compared to $89.0 million in the third quarter of fiscal 2014.

Comparable store sales from continuing operations for the quarter ended April 4, 2015, however rose slower at 1.2 per cent year on year.

“Growth in the reporting quarter was primarily driven by higher average unit retail in the Bebe and outlet businesses, international expansion and the benefit from a shift in the date of Easter,” it explained.

Gross margin from continuing operations as a percentage of net sales improved to 30.4 per cent as against 27.5 per cent in the third quarter of fiscal 2014.

“The increase in margin primarily reflects fewer markdowns and promotions during the quarter,” Bebe Stores observed.

SG&A expenses from continuing operations were down to $39.0 million, or 42.1 per cent compared to $47.4 million or 53.2 per cent of net sales for the same period in the prior year.

“SG&A expenses decreased as the result of store closures as well as cost cutting initiatives in the areas of compensation, marketing and repairs and maintenance,” it added.

During the quarter ended April 4, 2015, the Company opened two Bebe stores and closed nine Bebe stores and one outlet store.

CEO Jim Wiggett said, “Our third quarter results reflect continued progress in our turnaround with the third consecutive quarter of comparable store sales growth.”

“This happened; despite significantly fewer promotions and a meaningful reduction in marketing spend and to a lesser degree, port delays and prolonged cold weather also created pressure on our sales,” he too added.

“Looking ahead, we are encouraged by the progress we have made on our strategic initiatives and see growth opportunity through increased store productivity and development of our ecommerce strategy,” Wiggett noted.

Bebe currently operates 166 Bebe retail stores including the online store bebe.com, and 35 Bebe outlet stores. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

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

Vaanee Bhatia
Gritstones Clothing

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

October 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
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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