Bebe Sales Up, Green Lights Expansion
Bebe Stores Inc. reported its same-store sales increased 7 percent for its fourth fiscal quarter2011, compared with a decline of 3.4 percent in the same time in the previous year. During an Aug. 25 conference call with Wall Street analysts, Bebe President Emilia Fabricant said the retailer’s performance during its fourth quarter was its best since the second quarter of its 2006 fiscal year.
The Brisbane, Calif.–headquartered vertical retailer of casual and evening fashions for young women also revealed international expansion plans during the call and discussed efforts to cut costs.
In 2012, Bebe will open 60 overseas stores; 30 will be stand-alone stores, and 30 will be shop-in-shops. Most of these stores will be in Asia. The retailer also will be undertaking a review of how the company sources clothing. It is looking for ways to cut costs in sourcing, according to Fabricant. “Sourcing costs continue to be the most serious headwind,” she said.
During fourth quarter 2011, Bebe’s net sales were $132.3 million, which were up 8.3 percent from $122.1 million, which was reported for the same quarter in the previous year.
