This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Bebe Stores, Inc. Announces First Quarter Results

bebe stores, inc. (NASDAQ:BEBE) today announced unaudited financial results for the first quarter ended September 29, 2012.

Net sales for the first quarter of fiscal 2013 were $117.1 million, decreased 7.3% from $126.3 million reported for the first quarter a year ago. As previously reported, comparable store sales for the quarter ended September 29, 2012 decreased 8.7% compared to an increase of 7.0% in the comparable period of the prior year driven by the deceleration in store traffic.

Gross margin as a percentage of net sales decreased to 36.1% in the first quarter of fiscal 2013, compared to 40.0% in the first quarter of fiscal 2012. The decrease in gross margin as a percentage of net sales was primarily due to increase in markdowns coupled with unfavorable occupancy leverage.

SG&A expenses were $46.2 million, or 39.4% of net sales, compared to $47.0 million, or 37.3% of net sales for the same period in the prior year. The dollar decrease in SG&A expenses was primarily driven by decrease in compensation expense.

The effective tax rate for the first quarter of fiscal 2013 was 30.0% compared to 37.2% in the first quarter of fiscal 2012. The lower tax benefit in the current first quarter compared to the tax expense in the prior year period was due to various discrete items including a valuation allowance against a foreign NOL incurred during the quarter.

Net loss for the first quarter of fiscal 2013 was $2.6 million or $0.03 per share on 84 million shares outstanding compared to net income of $2.4 million or $0.03 per diluted share on 84 million shares outstanding for the same period of the prior year.

During the quarter ended September 29, 2012, the Company opened 5 2b stores and closed 7 bebe stores.

For the current quarter the Company’s capital expenditures were approximately $8.2 million and depreciation expense was approximately $5.1 million.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs