Bebe Stores' Comps Slump Again - Analyst Blog
15 Abril 2013 - 6:00AM
Zacks
The weak sales and same-store sales trend continues for
Bebe Stores Inc. (BEBE), as the company posted
weaker-than-expected retail sales results for the third quarter of
fiscal 2013 ended Apr 6, 2013. The company will announce further
details with the third-quarter earnings release on May 9.
Total retail sales of $104.0 million for the quarter declined 3.7%
from $108.0 million in the prior-year quarter. Comps declined 8.6%
for the quarter compared with an increase of 7.2% in the year-ago
period. Last quarter, the company’s total retail sales were down
11.7%, while comps declined 10.5%.
Year to date, Bebe’s total retail sales dipped 8.6% to $333.7
million from $365.0 million reported in the prior-year period.
Moreover, during the period, the company registered a 9.3% decline
in its comps compared with a rise of 8.1% achieved in the year-ago
period.
The decline in retail sales and comps were primarily due to a 7%
decline in traffic at the company’s comparable stores in the third
quarter, especially in February when traffic trends were mostly
negative. As of Apr 6, 2013, the company registered 6.8% growth in
average inventory per square foot.
We believe that the company’s sustained focus on the development of
a multi-channel retail format through the enhancement of its
e-Commerce capabilities, along with expanding international
business, will certainly help it combat waning retail sales.
Bebe Stores design, develop and produce a distinctive line of
contemporary women's apparel and accessories. They market their
products under the bebe, bebe moda and bbsp brand names through
their retail stores located in Canada and the United Kingdom.
Simultaneously, other retailers posted comps results for March on
Apr 11. March comps for other retailers like Ross Stores
Inc. (ROST) and Costco Wholesale
Corporation (COST) were up 2% and 4%, respectively, while
comps at Gap Inc. (GPS) declined 1%.
BEBE STORES INC (BEBE): Free Stock Analysis Report
COSTCO WHOLE CP (COST): Free Stock Analysis Report
GAP INC (GPS): Free Stock Analysis Report
ROSS STORES (ROST): Free Stock Analysis Report
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