Bebe 4th-qtr retail sales fall on lower store traffic
Women's apparel retailer Bebe Stores Inc said retail sales for the fourth quarter fell 2.5 percent hurt by waning store traffic.
Retail sales from continuing operations fell to $119.1 million for the fourth quarter from $122.4 million a year earlier, said the retailer, which had fallen out of favor with its clientele due to fashion missteps.
Store traffic fell 12 percent.
Same-store sales, which includes online stores, were down 2.5 percent and inventory per square foot increased about 2 percent.
Bebe discontinued its unsuccessful PH8 brand and has attempted to regain its core customers, who looked for cheaper alternatives.
The Brisbane, California-based company's shares were down 5.6 percent after closing at $5.69 on Monday on the Nasdaq.
Retail sales from continuing operations fell to $119.1 million for the fourth quarter from $122.4 million a year earlier, said the retailer, which had fallen out of favor with its clientele due to fashion missteps.
Store traffic fell 12 percent.
Same-store sales, which includes online stores, were down 2.5 percent and inventory per square foot increased about 2 percent.
Bebe discontinued its unsuccessful PH8 brand and has attempted to regain its core customers, who looked for cheaper alternatives.
The Brisbane, California-based company's shares were down 5.6 percent after closing at $5.69 on Monday on the Nasdaq.
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