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bebe stores reports slightly higher Q2 earnings

27 Jan '06

3 min read

Fashionable women's clothing & accessories producer bebe stores Inc has announced unaudited financial results for the second fiscal quarter ended December 31, 2005.

Net sales for the second quarter of fiscal 2006 were $167.9 million, up 10 percent from $152.6 million reported for the second quarter, a year ago. Net sales for the second quarter of fiscal 2006 were reduced by approximately $1.4 million associated with the customer loyalty program. As previously reported, same store sales for the quarter increased 2.2 percent compared to an increase of 27.3 percent in the prior year.

Gross profit as a percentage of net sales decreased to 50.7 percent in the second quarter of fiscal 2006, compared to 51.3 percent in the second quarter of fiscal 2005. The decrease in gross profit as a percentage of net sales from the prior year of 0.6 percent was primarily the result of lower merchandise margins.

Net sales for the year-to-date period ended December 31, 2005 were $294.1 million, up 15 percent from $255.7 million reported for the year-to-date period ended January 1, 2005. As previously reported, same store sales for the year-to-date period ended December 31, 2005 increased 8.1 percent compared to an increase of 20.8 percent for the year-to-date period ended January 1, 2005.

Net earnings for the year-to-date period ended December 31, 2005 were $38.6 million, an increase of 8.1 percent from $35.7 million for the year-to-date period ended January1, 2005.

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