Bebe stores announced its financial results

USA: Bebe stores Inc., has announced its financial results for the second quarter of the current fiscal ended 31st December, 2016. The fashion brand’s net sales declined 16.8% to US $ 101.9 million compared to US $ 122.4 million in the corresponding period last year. The comparable store sales decreased 10.5 per cent following the fall of 2.5% prior year. Net loss in this period totaled US $ 5.2 million from last year’s US $ 5.5 million. In the above-mentioned period, the company closed one Bebe store.

The company also posted its fiscal results for the period of first half ended 31st December, 2016. The net sales in this period amounted to US $ 189.2 million, down by 13.5% from last year’s US $ 218.7 million. The comparable store sales declined by 7.4%. The company’s net loss stood at US $ 13.0 million compared to net loss of US $ 22.6 million in the same period prior year. In the current financial year, the company does not plan to open any new store locations and will close up to 25 Bebe and outlet stores.