Bebe Stores, Inc. Announces Third Quarter Results

The statements in this news release and on our recorded message, other than the historical financial information, contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ from anticipated results. Wherever used, the words “expect,” “plan,” “anticipate,” “believe” and similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties and the company's future results of operations could differ materially from historical results or current expectations. Some of these risks include, without limitation, miscalculation of the demand for our products, effective management of our growth, decline in comparable store sales performance, ongoing competitive pressures in the apparel industry, changes in the level of consumer spending or preferences in apparel, loss of key personnel, difficulties in manufacturing, disruption of supply, adverse economic conditions, and/or other factors that may be described in the company's annual report on Form 10-K and/or other filings with the Securities and Exchange Commission. Future economic and industry trends that could potentially impact revenues and profitability are difficult to predict.

bebe stores, inc. SELECTED BALANCE SHEET DATA (UNAUDITED) (Dollars in thousands)
										March 31							April 2
											2012							2011
Assets
Cash and equivalents										$	113,239						$	88,251
Available for sale securities											79,926							85,519
Inventories, net											34,234							34,051
Total current assets											251,332							239,450
Available for sale securities											64,410							73,747
Property and equipment, net											93,871							89,801
Total assets											447,705							434,795
Liabilities and Shareholders' Equity
Total current liabilities										$	47,518						$	41,745
Total liabilities											87,230							83,042
Total shareholders' equity											360,475							351,753
Total liabilities and shareholders' equity											447,705							434,795

bebe stores, inc. STATEMENTS OF OPERATIONS (UNAUDITED) (Amounts in thousands except per share data and store statistics)
				For the Three Months Ended																								For the Nine Months Ended
				31-Mar											2-Apr													31-Mar										2-Apr
						2012				%							2011				%									2012			%							2011				%
Net sales				$		121,035				100.0		%			$		109,490				100.0		%					$		399,294			100.0		%			$		360,956				100.0		%
Cost of sales, including production and occupancy						74,220				61.3							69,212				63.2									241,073			60.4							223,581				61.9
Gross margin						46,815				38.7							40,278				36.8									158,221			39.6							137,375				38.1
Selling, general and administrative expenses						47,196				39.0							45,026				41.1									144,165			36.1							139,329				38.6
Operating income (loss)						(381	)			(0.3	)						(4,748	)			(4.3	)								14,056			3.5							(1,954	)			(0.5	)
Interest and other income, net						232				0.2							144				0.1									642			0.2							694				0.2
Income from continuing operations before income taxes						(149	)			(0.1	)						(4,604	)			(4.2	)								14,698			3.7							(1,260	)			(0.3	)
Income tax provision (benefit)						65				0.1							(1,969	)			(1.8	)								5,997			1.5							(579	)			(0.1	)
Income (loss) from continuing operations, net of tax						(214	)			(0.2	)						(2,635	)			(2.4	)								8,701			2.2							(681	)			(0.2	)
Loss from discontinued operations, net of tax						-				-							-				-									-			-							(5,835	)			(1.6	)
Net income (loss)				$		(214	)			(0.2	)	%			$		(2,635	)			(2.4	)	%					$		8,701			2.2		%			$		(6,516	)			(1.8	)	%
Basic per share amounts:
Income (loss) from continuing operations, net of tax				$		(0.00	)								$		(0.03	)										$		0.10								$		(0.01	)
Loss from discontinued operations, net of tax						-											-													-										(0.07	)
				$		(0.00	)								$		(0.03	)										$		0.10								$		(0.08	)
Diluted per share amounts:
Income from continuing operations, net of tax				$		(0.00	)								$		(0.03	)										$		0.10								$		(0.01	)
Loss from discontinued operations, net of tax						-											-													-										(0.07	)
				$		(0.00	)								$		(0.03	)										$		0.10								$		(0.08	)
Basic weighted average shares outstanding						84,280											84,050													84,198										84,403
Diluted weighted average shares outstanding						84,280											84,050													84,443										84,403
Number of stores open at beginning of period						256											253													252										298
Number of stores opened during period						3											2													10										6
Number of stores closed during period						8											6													11										55
Number of stores open at end of period						251											249													251										249
Number of stores expanded/relocated during period						-											-													1										4
Total square footage at end of period (000's)						998											998													998										998

« First ‹ Previous 1 2 3 4 5 Next › Last »