Bebe 3Q revenue falls, misses estimates
Bebe Stores says 3rd-quarter revenue fell 4 percent as fewer shoppers came to stores
BRISBANE, Calif. (AP) -- Teen fashion retailer Bebe Stores Inc. said Thursday that its overall revenue fell 3.7 percent in the fiscal third quarter, and the results were weaker than Wall Street expected.
Bebe said its revenue fell to $104 million for the quarter ended April 6 from $108 million a year ago. Analysts expected $115.3 million in revenue, according to FactSet.
The company said revenue at locations open at least a year fell 8.6 percent. The company said customer traffic at those stores decreased company to a year ago, especially in February.
Revenue at stores open at least a year is considered an important measurement of retailer health because it excludes results from locations that opened or closed within the last year.
In January, Bebe said it expected those sales would fall by a percentage in the mid-single digits in the third quarter.
The company will report full quarterly results after the market closes on May 9. Bebe said it expects to take a loss in the mid-teens per share, and analysts expect a loss of 14 cents per share for the period.
Bebe shares closed at $4.31 Wednesday and have traded between $3.48 and $8.94 in the last year.
