Bebe Stores Posts Loss; Stock Down - Quick Facts

(RTTNews) - Apparel retailer Bebe Stores Inc. (BEBE) Thursday reported second-quarter net loss of $21 million or $0.26 per share, compared with net income of $3 million or $0.04 per share last year.

Excluding items, adjusted loss for the quarter was $10.7 million or $0.14 per share.

Revenues for the quarter were $119 million, compared with $132 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.14 per share on revenue of $118.80 million for the quarter. Analysts' estimates typically exclude special items.

As previously reported, comparable store sales for the quarter slid 7.1%, compared with a decrease of 2.5% in the prior year.

Gross margin for the quarter shrunk to 30.6% from 40.2% last year.

Looking ahead to the first quarter, the company expects net loss per share to be in the range of low to mid-teens. Analysts expect a loss of $0.10 per share.

The company expects comparable store sales for the quarter to be in the negative low to mid-single digit range. Gross margin is expected to be lower due to higher markdowns on legacy inventory and deleverage of certain fixed costs.

Shares of Bebe closed Thursday at $5.99, up $0.10 or 1.70%, on a volume of 640 thousand shares on the Nasdaq. In after hours, the stock dropped $0.24 or 4.01%.