Bebe Stores Says Profit Soars, Revises Forecast
Bebe Stores Inc. said fiscal fourth-quarter profit more than doubled, but it revised a forecast for the current quarter that was at the low end of Wall Street’s expectations.
Shares of the Brisbane, Calif.-based young women’s apparel retailer fell 67 cents to $24.05 in after-hours trading after gaining $1.37 to $24.72 in regular trading.
The company said its earnings for the quarter ended July 2 rose to $19.5 million, or 21 cents a share, from $8.4 million, or 9 cents, for the same period a year earlier. The results exceeded Wall Street’s expectations for a profit of 19 cents a share as shoppers snapped up its trendy, teen-oriented fashions.
Bebe said it expected to earn 14 cents to 17 cents a share in its fiscal first quarter. Wall Street analysts on average forecast a profit of 17 cents a share.