Home / Knowledge / News / Apparel/Garments / Q1 FY16 net sales down 5.7% at Bebe
Q1 FY16 net sales down 5.7% at Bebe
19
Nov '15
Bebe Stores, a renowned US retailer for womenswear and accessories, posted net sales of $96.3 million for the first quarter of FY16 ending October 3, 2015, showing a decrease of 5.7 per cent as compared to the net sales of $102.2 million in the corresponding quarter last fiscal, according to a press statement released by the company.

Gross margin posted by Bebe was 28.9 per cent for the first quarter of FY16 against 32.1 per cent for the corresponding quarter last fiscal. Selling, general and administrative expenses for the quarter increased to 46.6 per cent of the net sales as compared to 41.2 per cent of the net sales in Q1 FY16.

The retailer posted a loss of $17.1 million for the quarter from continuing operations. Excluding incremental costs, loss from continuing operations was $12.8 million for the same period. Including a loss from discontinued operations of $1.8 million, net loss for the period was $10.8 million.

During this quarter, the retailer closed one store and opened one company outlet.

Commenting on the company's performance, Jim Wiggett, CEO of Bebe said, “Our first quarter performance reflects the continuation of a challenging retail environment in addition to soft sell-through in our Boho Collection. This led to an increase in our promotional activity as well as higher markdowns resulting in reduced gross margin.”

“Looking ahead, we will continue to evolve the merchandise assortment and enhance our marketing programmes to accelerate the pace of our turnaround,” he added.

For the second quarter of fiscal 2016, Bebe expects comparable store sales to be in negative high single digit range due to the current sales trends, recent merchandising process changes and the related product cancellations which began in October 2015. (MCJ)

Fibre2Fashion News Desk — India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Nitesh Mittal

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

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

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

Lynda Kelly
Suominen Corporation

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

Akta Adani
India Boulevard

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

Silvia Venturini Fendi
Fendi s.r.l

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth 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

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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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