Bebe Issues Warning on Quarterly Profit
From Bloomberg News
Bebe Stores Inc., a women’s clothing chain whose stock has lost 74% of its value this year, said Tuesday that it expects its fiscal fourth-quarter profit to be hurt by a decline in same-store sales this month.
Bebe expects sales at stores open at least a year to fall in the “high teens” to 20% range for June, said Chief Financial Officer Blair Lambert.
The Brisbane, Calif.-based firm declined to say what it expects to earn in its fiscal fourth quarter, ending this month. The average estimate of analysts polled by First Call/Thomson Financial is 18 cents a share.
On Tuesday, shares of Bebe fell 88 cents to close at $6.88 on Nasdaq.
