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.
Dover Saddlery continues net loss in Q1; plans four-to-six new stores
Littleton, Mass. – Dover Saddlery, Inc. reported a net loss of $543,000 in the first quarter of fiscal 2014, virtually flat with the $538,000 net loss reported in the first quarter of the prior year. Total revenues for the first quarter of 2014 increased 9.4% to $19.7 million, from $18 million achieved in first quarter 2013.
Dover Saddlery plans on opening four to six new stores during fiscal 2014.
"I am pleased to report that the three Dover Saddlery stores opened in the fourth quarter of 2013 performed very well in the first quarter of this year,” said Stephen L. Day, president and CEO of Dover Saddlery. “The increase in selling, general and administrative expense was due primarily to increased direct marketing costs and increased labor and lease expenses associated with the new stores."
Isaac Mizrahi New York completed omnichannel strategy with e-commerce site
New York — Xcel Brands announced the launch of the first Isaac Mizrahi New York e-commerce website, IsaacMizrahi.com.
Phase one of the user-friendly website will offer a wide array of Isaac Mizrahi New York product offerings including women’s sportswear, dresses, footwear, handbags, eyewear, watches, tech accessories and fragrance. Additionally, a dedicated section of the website will consolidate the brand’s recent social media feeds, providing a view into what inspires Isaac’s style.
The website will be expanded in fall 2014 to include an Isaac Mizrahi lifestyle blog and product lines exclusive to e-commerce.
Robert W. D’Loren, Xcel’s chairman and CEO, stated: "E-commerce was the next step for Isaac Mizrahi; it completes the circle for Xcel’s omnichannel sales strategy for the brand. Our omnichannel approach for Isaac Mizrahi now includes a significant and rapidly growing interactive TV audience, better department store doors, our own Isaac Mizrahi retail stores, and the new e-commerce site."