BRISBANE, Calif. (AP) — Bebe Stores Inc., which sells trendy clothing aimed at women in their 20s, said Thursday that a key revenue figure rose 7 percent in the first quarter, and said its earnings would be at the high end of its previous guidance.
Revenue in stores open at least one year rose 7 percent. The measure is a key gauge of a retailer's performance because it excludes stores that open or close during the year.
Total revenue for the quarter ended Oct. 1 rose 7.1 percent to $116 million, from $108.3 million in the same period a year ago. Analysts expected higher revenue of $124.1 million, according to a FactSet poll.
The company, which based in Brisbane, Calif., said it now expects first-quarter net income will be on the high end of its previous guidance, of a loss of a penny per share to net income of a penny per share. That excludes special charges incurred during the quarter.
Analysts expect net income to be break-even per share.
In a quest to improve performance, the chain has done away with unprofitable lines and closed underperforming Bebe stores. It is focusing on international growth and expects its international licensees will grow by up to 30 stand-alone stores and 30 shops inside department stores in the fiscal year.
0 comments:
Post a Comment