USA: bebe stores Reports On "Challenging" Fourth Quarter
bebe stores, inc (Nasdaq:BEBE) today announced financial results for the fourth quarter and year ended June 30, 2000. "The June quarter was very challenging for us," said Manny Mashouf, president and chief executive officer. "We did not address some of our customer's apparel needs as well as we have over the past few years. We are, however, focused on our customer's needs again and are looking forward to an exciting fall season." Net sales for the fourth quarter of fiscal 2000 were $54.1m, compared to $54.2m reported for the fourth quarter a year ago. Same store sales for the quarter decreased by 15.2 per cent compared to a same store sales increase of 18.9 per cent in the fourth quarter of fiscal 1999. Net earnings for the fourth quarter were $4.0m, compared to $7.7m in the same period a year ago. Fourth quarter diluted earnings per share were $0.16 versus $0.30 in the same period a year ago. Net sales for the year ended June 30, 2000 were $241.8m, up 20.1 per cent from $201.3m reported in fiscal 1999. Net earnings for the fiscal year ended June 30, 2000 were $29.4m, up 5.0 per cent from $28.0m in fiscal 1999. Diluted earnings per share for the fiscal year ended June 30, 2000 were $1.17 compared to $1.11 in fiscal 1999. bebe designs, develops and produces a distinctive line of contemporary women's apparel and accessories, which it markets under the bebe, bbsp and bebe moda brand names. bebe currently operates 124 stores in the United States, the U.K., Canada and an online store at
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