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Apparel retailer Bebe more than halves Q1FY17 net loss
Nov '16
For the first fiscal quarter ended October 1, 2016, apparel retailer Bebe Stores more than halved its net loss to $7.8 million or $0.10 loss per share, on 80.1 million diluted shares outstanding, compared to a net loss of $17.1 million or $0.22 loss per share, on 79.7 million diluted shares outstanding for the same quarter of the previous fiscal.

For the reporting quarter, net sales stood at $87.2 million, down 9.4 per cent from $96.3 million in the first quarter of fiscal 2016. Comparable store sales fell 3.2 per cent as against a decline of 4.1 per cent in the corresponding quarter of the earlier fiscal.

However, gross margin as a percentage of net sales rose to 31.5 per cent in the quarter under review vis-à-vis 28.9 per cent in the comparable quarter of last fiscal.

According to the retailer, the increase in margin was primarily the effect of a reduction in markdowns and promotions and leverage on store occupancy cost. (AR)

Fibre2Fashion News Desk – India

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