Bebe Stores Offers 1Q Forecast Lower Than Analysts

BRISBANE, Calif. (AP) — Apparel retailer Bebe Stores Inc. said Thursday it expects to report lower earnings for its first quarter than analysts expect.

The company expects report earnings for the three months that end Oct. 3 between breaking even to a loss of 5 cents per share. In contrast, analysts polled by Thomson Reuters on average expect to see a profit of 4 cents per share.

The company says its finished-goods inventory will fall on a per-square-foot basis by a percentage in the mid- to high-teens range compared with a year earlier.

The news came as the Brisbane, Calif.-based retailer reported a loss for its fourth quarter amid slumping sales and markdown intended to reduce inventory. But the company's adjusted results beat expectations.

Shares of Bebe fell 29 cents, or 3.7 percent, to $7.63 during after-hours trading.