This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bebe Stores, Inc. Announces Second Quarter Earnings

bebe stores, inc. (NASDAQ:BEBE) today announced unaudited financial results for the second quarter ended December 31, 2011. In the second fiscal quarter of the prior year, the Company closed its remaining 25 PH8 stores, with the entire PH8 division results being presented as discontinued operations for all periods herein.

Net sales from continuing operations for the second quarter of fiscal 2012 were $152.0 million, up 11.6% from $136.2 million reported for the second quarter a year ago. As previously reported, comparable store sales for the quarter ended December 31, 2011 were 9.6% compared to flat in the prior year.

Gross margin from continuing operations as a percentage of net sales increased to 40.1% in the second quarter of fiscal 2012, compared to 37.1% in the second quarter of fiscal 2011. The increase in gross margin as a percentage of net sales from the prior year of 3.0% was primarily due to an increase in merchandise margin, coupled with positive occupancy leverage, offset by an increase in reserves and write offs. The increase in merchandise margin was fueled by lower markdowns, partially offset by the growth of 2b and international wholesale sales which were at a lower merchandise margin.

SG&A expenses from continuing operations for the second quarter of fiscal 2012 were $49.9 million, or 32.8% of net sales, compared to $48.0 million, or 35.3% of net sales for the same period of the prior year. The dollar increase over the prior year was primarily due to higher compensation expenses, partially offset by insurance proceeds combined with lower impairment and store closure costs.

The effective tax rate for the second quarter of fiscal 2012 was 40.9% compared to 41.4% in the second quarter of fiscal 2011.

Operating income from continuing operations for the second quarter of fiscal 2012 was $11.0 million or 7.2% of net sales, compared to $2.5 million or 1.8% of net sales for the same period of the prior year. During the quarter the Company had net earnings from continuing operations of $6.6 million or $0.08 per share on 84.3 million diluted shares outstanding compared to $1.6 million or $0.02 per share on 84.1 million diluted shares outstanding for the same period of the prior year.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs