Bebe Stores, Inc. Launches New Spring 2015 Collection
Feb 16 15
Bebe Stores, Inc. has launched its new spring collection for 2015, iViva La Vida. The campaign brings to life the artful, exclusive floral and leopard prints, flowing silhouettes and exotic embellishments which conjure a sense of well-traveled glamour, with key pieces including dramatic maxi and hi-lo dresses, polished cocktail dresses, linen suiting, sophisticated jumpsuits and exquisitely detailed special occasion wear. Design details range from sheer insets, asymmetric hemlines and beautiful draping to shimmering beaded and metallic accents. Coral, turquoise and soft yellows create a subtle tropical palette, with spring white and light beiges seen throughout. Tribal-inspired statement necklaces, earrings and cuffs accessorize the collection, which also offers strappy metallic sandals and neutral wedges with day-to-night versatility.
Bebe Stores, Inc. Announces Quarterly Dividend, Payable on March 19, 2015
Feb 6 15
Bebe Stores, Inc. announced that its Board of Directors declared quarterly cash dividend of $0.015 per share. The dividend is payable on March 19, 2015 to shareholders of record at the close of business on March 5, 2015.
Bebe Stores, Inc. Plans to Open Three Bebe Stores and One Outlet Store; Plans to Close Up to Six More Bebe and Outlet Stores; Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended January 3, 2015; Provides Earnings Guidance for the Third Quarter of Fiscal 2015 and Capital Expenditure Guidance for the Fiscal 2015
Feb 5 15
For the second half of fiscal year 2015, Bebe Stores, Inc. plans to open three bebe stores, one outlet store, and to close up to six more bebe and outlet stores, which will result in an approximately 3% decrease in total store square footage as compared to the end of fiscal year 2014.
The company unaudited consolidated earnings results for the second quarter and six months ended January 3, 2014. For the period, the company’s net sales from continuing operations increased 4.6% to $128.9 million, as compared to $123.3 million in the second quarter of fiscal 2014. Comparable store sales from continuing operations for the quarter ended January 3, 2015, increased 8.0% compared to a decrease of 2.6% in the same period of the prior year. The growth was primarily driven by increased Average Unit Retail resulting from improved full price sell-through of the fall and holiday product offerings in both the bebe and outlet businesses. Comparable store sales increased sequentially compared to the first quarter of fiscal 2015, marking the second consecutive quarter of positive comparable store sales for the company. Operating income was $128,914,000 against loss of $4,514,000 a year ago. Income before income taxes was $119,000 against loss before income taxes of $4,428,000 a year ago. Net loss was $385,000 against $5,465,000 a year ago. Net loss from continuing operations was $20,000 against $4,369,000 a year ago. On non GAAP basis, operating income from continuing operations was $1.5 million, net income was $1.4 million or $0.02 per share against operating loss from continuing operations of $5.3 million and net loss of $5.1 million or $0.06 per share a year ago.
For the months ended January 3, 2015, the company's net sales were $231.1 million, a decrease of 0.6% from $232.5 million for the first six months ended January 4, 2014. Comparable store sales for the first six months ended January 3, 2015 increased 4.7%. Net loss from continuing operations was $9.0 million, or $0.11 per share, compared to net loss of $12.3 million, or $0.16 per share, in the same prior year period. Included
in loss from continuing operations for the first six months of fiscal 2015 were $1.5 million of costs including severance expense, cyber breach related costs and store impairment and closure charges. Excluding the impact of these charges, net loss from continuing operations was $7.5 million or $0.10 per share, for the first six months of fiscal 2015. Operating loss was $9,266,000 against $12,714,000 a year ago. Loss before income taxes was $8,831,000 against loss before income taxes of $12,470,000 a year ago. Net loss was $11,202,000 or $0.14 per basic and diluted share against $14,619,000 or $0.19 per basic and diluted share a year ago. On non GAAP basis, operating loss from continuing operations was $7.8 million and net loss was $7.5 million or $0.10 per share against operating loss from continuing operations of $13.4 million, net loss of $13.0 million or $0.17 per share a year ago. Capital expenditure for the fiscal year to date were $9.3 million.
For the third quarter of fiscal 2015, the company expects net loss per share to be in the mid-teens range as the third quarter is historically the lowest volume quarter and therefore it expects to see deleveraging on fixed costs. The expected net loss per share range also reflects the continuing impact of maintaining a valuation allowance against deferred tax assets, and thus a close to 0% effective tax rate.
For the full year, total capital expenditures are anticipated to be approximately $18 million for new stores, remodels and information technology systems.