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Bebe shrinks net loss in Q3

Brisbane, Calif. – Bebe Stores Inc. reported a net loss of $24.3 million in the third quarter of fiscal 2014, an improvement from the net loss of $49.3 million recorded in the same quarter a year earlier.

However, net sales were $93.5 million, a decrease of 17.2% from $112.9 million for the third quarter a year ago.

Same-store sales for the quarter decreased 5.7%.

Bebe said the sales decrease was due partially to one fewer retail week in January in the current fiscal year coupled with the closure of 19 unproductive stores since the prior year third fiscal quarter. The company’s sales results were also negatively impacted by extreme weather throughout the quarter, with up to 136 weather-related temporary store closures. In addition, Bebe believes that the timing of Easter in late April had a greater-than-expected negative impact on sales in the quarter, specifically in the outlet locations.

Bebe plans to open one new outlet store and close one 2b Bebe store by the end of the fiscal year. The retailer expects flat same-store sales for the fourth quarter of fiscal 2014.