Shares of Bebe ( BEBE) slipped in late trading Thursday after the women's apparel retailer missed Wall Street's earnings expectations.

Bebe reported net income of $24.3 million, or 26 cents a share, for the fiscal second quarter ended Dec. 30. The profit was down from $25 million, or 27 cents a share, a year earlier.

Analysts polled by Thomson First Call anticipated earnings of 28 cents a share.

The results were toward the low end of the company's forecast earlier this month. At the time, the company cut its second-quarter earnings estimate to a range of 25 cents to 29 cents a share from a prior view of 31 cents to 35 cents.

Bebe's same-store sales, or sales at stores open at least a year, increased 5.5% in the quarter. Total sales rose 17% to $196.8 million.

For the third quarter, Bebe forecast earnings of 13 cents to 16 cents a share, compared with Wall Street's target of 16 cents. A year earlier, earnings were 14 cents a share.

Bebe expects third-quarter same-store sales growth in the low-single-digit range.

Shares were sliding 94 cents, or 5%, to $17.80 in after-hours trading.