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Q2FY17 net sales slip 16.8% at apparel retailer Bebe Stores
06 Feb '17
1 min read
Net sales for the three months ended December 31, 2016, at apparel retailer Bebe Stores slipped 16.8 per cent to $101.9 million as against $122.4 million reported in the prior fiscal’s second quarter.
Comparable store sales for the second quarter of fiscal 2017 declined 10.5 per cent, compared to a drop of 2.5 per cent in the same quarter of fiscal 2016.
However, gross margin as a percentage of net sales rose to 34.4 per cent in the reporting quarter, vis-à-vis 34.0 per cent in the earlier fiscal’s comparable quarter, primarily the effect of a reduction in markdowns and promotions.
In the quarter under review, net loss fell to $5.2 million, or $0.65 per share, on 8 million diluted shares outstanding, versus loss of $5.5 million, or $0.68 per share, on 8 million diluted shares outstanding, in the previous fiscal’s second quarter. (AR)
Comparable store sales for the second quarter of fiscal 2017 declined 10.5 per cent, compared to a drop of 2.5 per cent in the same quarter of fiscal 2016.
However, gross margin as a percentage of net sales rose to 34.4 per cent in the reporting quarter, vis-à-vis 34.0 per cent in the earlier fiscal’s comparable quarter, primarily the effect of a reduction in markdowns and promotions.
In the quarter under review, net loss fell to $5.2 million, or $0.65 per share, on 8 million diluted shares outstanding, versus loss of $5.5 million, or $0.68 per share, on 8 million diluted shares outstanding, in the previous fiscal’s second quarter. (AR)
Fibre2Fashion News Desk – India
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