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Bebe Stores, Inc. Announces First Quarter Results

For the second quarter of fiscal 2013, we currently anticipate comparable store sales in the negative low to mid-single digit range. Depending on actual sales and markdowns, results are expected be in the range of a net loss of $0.01 to net income of $0.03 per diluted share based on 84 million weighted average shares outstanding versus net income of $0.08 per diluted share based on 84 million weighted average shares outstanding in the second quarter of fiscal 2012. In the current quarter, we will continue to see lower gross margin rate and an increase in SG&A as a percent of sales. The Company is currently anticipating an effective tax rate of approximately 41% for fiscal 2013.

Finished goods inventories per square foot as of the end of the second quarter of fiscal year 2013 are anticipated to increase in the mid-teen range given the increase in average unit cost for elevated product offerings, additional spring receipts, localization strategy, and inventory in the prior year comparable period was below projection.

Total capital expenditures for the year are anticipated to be approximately $27 million, which will include capital expenditures for new stores, remodels, store expansions, information technology systems and office improvements.

For the remainder of fiscal year 2013, we anticipate opening 5 bebe stores and 1 2b store. We also anticipate closing up to 5 bebe stores and 1 2b pop-up store, which represents no change to the total square footage. In addition, our international licensees are anticipated to grow by up to 20 points-of -sale.

bebe stores, inc. will host a conference call today at 1:30 P.M. Pacific Time to discuss first quarter results. Interested parties are invited to listen to the conference by calling 1-866-893-0531. A replay of the call will be available for approximately one week by calling 1-855-859-2056 and entering in conference ID number 38272773. A link to the audio replay will be available on our web site at www.bebe.com following the conference call.

bebe stores, inc. is a global specialty retailer, which designs, develops and produces a distinctive line of contemporary women’s apparel and accessories under its bebe, BEBE SPORT, bbsp and 2b bebe brand names. bebe currently operates 250 stores, of which 198 are bebe stores, including the on-line store bebe.com, and 52 are 2b bebe stores, including the on-line store 2bstores.com. These stores are located in the United States, U.S. Virgin Islands, Puerto Rico, Canada and Japan. bebe also distributes and sells bebe branded product through its licensees in approximately 21 countries.

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