BRISBANE, Calif. — Global specialty retailer Bebe reported retail sales of $109 million for the fourth fiscal quarter ended July 6, a decrease of 8.5% compared to $119.1 million for the fiscal quarter ended June 30, 2012.
Comparable store sales for the quarter decreased 7.1% compared to a decrease of 2.5% in the fourth fiscal quarter of the prior year. The decrease was primarily driven by the negative comparable store traffic during the quarter, with April being the most negative.
Retail sales for the fiscal year ended July 6 were $442.8 million, a decrease of 8.6% compared to $484.2 million for the fiscal year ended June 30, 2012. Comparable store sales for the fiscal year ending July 6 decreased 8.8% compared to an increase of 5.3% for the fiscal year ending June 30, 2012.
During the quarter, the company increased promotional activities to continue to clear through previously committed unproductive inventory. While this negatively impacted merchandise margin, the company says it made progress in working through legacy merchandise to ensure a clean inventory position for the fall season.
Beginning in fiscal 2014, Bebe will discontinue quarterly retail sales reporting. Sales and earnings will be reported in conjunction with the quarterly earnings announcement.
Bebe designs, develops and produces a distinctive line of contemporary women’s apparel and accessories under the Bebe, Bebe Sport, Bbsp and 2b Bebe brand names. It currently operates 240 stores, of which 188 are Bebe stores, including its e-commerce site, and 52 are 2b Bebe stores, including its e-commerce site. Stores are located in the United States, U.S. Virgin Islands, Puerto Rico and Canada. Bebe also distributes and sells Bebe-branded product through its licensees in approximately 25 countries.