bebe stores, inc. (Nasdaq:BEBE) today reported retail sales for the
quarter ended July 5, 2008 of $167.2 million, up 4% from $160.9 million
for the quarter ended July 7, 2007. Same store sales for the quarter
ended July 5, 2008 decreased 5.6% compared to a decrease of 5.7% in the
prior year.
Retail sales for the fiscal year ending July 5, 2008 were $675.1 million
compared to $665.5 million for the fiscal year ended July 7, 2007, which
included approximately $10 million in additional sales due to the extra
week in fiscal 2007. Excluding sales from the additional week in fiscal
2007, retail sales increased approximately 3% compared to the
corresponding prior fiscal year. Same store sales for the fiscal year
ending July 5, 2008 decreased 7.6% compared to an increase of 2.9% for
the fiscal year ending July 7, 2007. Due to the 53rd
week in fiscal 2007, same store sales for the prior fiscal year exclude
the additional week from fiscal January 2007.
As of July 5, 2008, finished goods inventory per square foot decreased
8.5% compared to the prior year.
During fiscal 2008, the Company opened 35 stores, expanded or relocated
7 existing stores and closed 5 stores resulting in a square footage
growth of approximately 13%. The number of new stores includes 19 bebe
stores, 9 BEBE SPORT stores and 7 bebe outlet stores.
bebe stores, inc. provides additional information on a recorded message.
Interested parties are invited to listen to the message by calling
1-877-232-3757.
bebe stores, inc. will host a conference call on Thursday, August 21,
2008 at 1:30 PM Pacific Time to discuss fourth quarter results.
Interested parties are invited to listen to the conference by calling
(888) 889-5848. A replay of the call will be available for approximately
one week by calling (866) 393-0872. A link to the audio replay will be
available on our web site at www.bebe.com
following the conference call.
bebe stores, inc. designs, develops and produces a distinctive line of
contemporary women’s apparel and accessories,
which it markets under the bebe, BEBE SPORT, bbsp, 2 b bebe and bebe O
brand names. bebe currently operates 303 stores, of which 212 are bebe
stores, 27 are bebe outlet stores, 63 are BEBE SPORT stores and 1 is a
bebe accessories store. These stores are located in the United States,
U.S. Virgin Islands, Puerto Rico and Canada. In addition, there is an
online store at www.bebe.com.
The statements in this news release and on our recorded message, other
than the historical financial information, contain forward-looking
statements that involve risks and uncertainties that could cause actual
results to differ from anticipated results. Wherever used, the words “expect,”
“plan,” “anticipate,”
“believe” and
similar expressions identify forward-looking statements. Any such
forward-looking statements are subject to risks and uncertainties and
the company's future results of operations could differ materially from
historical results or current expectations. Some of these risks include,
without limitation, miscalculation of the demand for our products,
effective management of our growth, decline in comparable store sales
performance, ongoing competitive pressures in the apparel industry,
changes in the level of consumer spending or preferences in apparel,
loss of key personnel, difficulties in manufacturing, disruption of
supply, adverse economic conditions, and/or other factors that may be
described in the company's annual report on Form 10-K and/or other
filings with the Securities and Exchange Commission. Future economic and
industry trends that could potentially impact revenues and profitability
are difficult to predict.
bebe stores, inc.
Walter Parks, 415-715-3900
Chief Operating
Officer
