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 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

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

Urs Stalder
Sanitized AG

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Ritu Kumar
Label Ritu Kumar

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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:
May 2017

May 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