The clothing retailer reportedly posted losses for the quarter amid plunging sales.
Brisbane, California (WiredPRNews.com) – Bebe Stores Inc. reportedly saw losses in its first quarter of the fiscal year due to a significant decrease in sales. As reported by the Associated Press (AP), the company posted first quarter losses Thursday of $4.2 million for the period ending Oct. 3. The company is noted to have seen an $11.2 million profit a year prior.
As noted by the AP, Bebe has predicted a break-even point or 5 cents per share profit by the end of the current quarter, with merchandise discounting being a factor. Analyst project a 4 percent profit for the quarter.
Bebe Stores, founded in 1976, sells a distinctive line of contemporary clothing and accessories for women. The retailer’s total purported revenue for 2008 was $687.6 million.
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