bebe stores, inc. (BEBE) today reported retail sales from continuing operations of $108.0 million for the third quarter ended March 31, 2012, an increase of 7.1% compared to $100.8 million for the third quarter ended April 2, 2011.
As previously disclosed, beginning in fiscal 2012, the Company reports comparable store sales results inclusive of our on-line store. Same store sales for the fiscal quarter ended March 31, 2012 increased 7.2% compared to a decrease of 0.7% in the prior year. As a reminder, bebe total sales, which we will disclose in our earnings release, also include wholesale and other sales in addition to the retail sales released herein.
Retail sales from continuing operations for the year-to-date period ended March 31, 2012 were $365.0 million, an increase of 8.1% compared to $337.5 million for the year-to-date period ended April 2, 2011. Comparable store sales for the year-to-date period ending March 31, 2012 increased 8.1% compared to a decrease of 0.4% for the year-to-date period ending April 2, 2011.
As of March 31, 2012, average finished goods inventory per square foot decreased approximately 2% compared to the prior year.
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, May 3, 2012 at 1:30 P.M. Pacific Time to discuss third quarter results. Interested parties are invited to listen to the conference by calling 1-866-893-0531. A replay of the call will be available for approximately two weeks by calling 1-855-859-2056 and entering in conference ID number 41800254. 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 and 2b bebe brand names. bebe currently operates 251 stores, of which 207 are bebe stores, including bebe.com, and 44 are 2b bebe stores, including 2bstores.com. These stores are located in the United States, U.S. Virgin Islands, Puerto Rico, Canada and Japan. bebe also distributes and sells bebe branded product through its licensees in approximately 19 countries.
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.
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