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

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Ashok Desai
Bombay Textile Research Association

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silvia Venturini Fendi
Fendi s.r.l

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

Wendell Rodricks
Wendell Rodricks

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
March 2017

March 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