Bebe Stores Inc Announces Third Quarter Earnings Of $0.17 Per Share
Designer, developer and producer of women's apparel, Bebe Stores Inc, has announced its financial results for the third quarter of fiscal 2001 ended March 31, 2001.

Net sales for the third quarter reached $66.2m, a 25.1 per cent increase from the $52.9m reported for the third quarter a year ago. Same store sales for the quarter decreased by 2.0 per cent compared to the corresponding period of the prior year.

Net earnings for the third quarter were down to $4.3m, compared to the $5.4m reported for the same period a year ago. Diluted earnings per share for the third quarter were $0.17 versus $0.22 in the same period of fiscal 2000.

Net sales for the nine months ended March 31, 2001 were $221.1m, up 17.8 per cent from the $187.7m reported for the same period last year. Net earnings for the nine months ended at $22.0m, compared to $25.4m for the same period of the prior year. Diluted earnings per share were $0.86 compared to $1.01 a year ago.

Nautica Enterprises Inc Reports Fourth Quarter And Fiscal 2001 Year-End Results
Nautica Enterprises Inc has reported sales and earnings for the fourth quarter and fiscal year ended March 3, 2001.

For the fourth quarter, net sales increased 10.6 per cent to $158.2m from $143.0m in the fourth quarter of last year. Net earnings, which increased at a significantly faster rate than sales, rose 29.9 per cent to $13.1m, compared to $10.1m in the prior year period.

Diluted earnings per share increased 39.3 per cent to $0.39 from $0.28 last year, reflecting 6.9 per cent fewer diluted average shares outstanding as a result of the company's share repurchase program.

Harvey Sanders, chairman and chief executive officer of Nautica Enterprises Inc, said: "We are pleased by our performance during the quarter as we continued to successfully navigate the challenging retail environment. We sustained strong regular price selling in our core sportswear division which is a testament to the dominance of our brand and its acceptance at retail."

For the fiscal year ended March 3, 2001, net sales increased 11.1 per cent to $627.7m. As a result of additional expenses related to a series of strategic initiatives, net earnings were $46.1m, essentially flat with last year. Earnings per share on a diluted basis grew 10.3 per cent to $1.39 from $1.26 the prior year on 9.2 per cent fewer diluted average shares outstanding.

Mr Sanders said: "Looking to fiscal 2002, as the year progresses we expect to realise substantial benefits from our strategic initiatives and stand to gain operating leverage from the roll out of our new businesses. We are extremely pleased with the direction our company is heading and are comfortable with the current consensus estimates for the full year.

The Spiegel Group Reports First Quarter Earnings
The Spiegel Group has announced its financial results for the first quarter ended March 31, 2001.

During the period, the company reported a net loss of $12.2m, or $0.09 per share, compared to earnings of $20.2m, or $0.15 per share, before the cumulative effect of an accounting change, in the first quarter of 2000. Results were consistent with previous guidance and First Call consensus estimates.

Operating income declined by $47.2m for the quarter, including a $51.8m decrease in income for the merchandising segment and a $4.4m improvement in the bankcard segment.

Total revenue for the quarter declined 3 per cent to $749.6m reflecting a 3 per cent decrease in net sales and a 10 per cent decrease in finance revenue.

Net sales for the quarter included a 2 per cent decline in direct sales and a 3 per cent drop in retail store sales. Direct sales are comprised of a 94 per cent lift in e-commerce sales and a 13 per cent decrease in catalogue sales. The drop in retail store sales was due to a 10 per cent decline in Eddie Bauer's comparable-store sales offset somewhat by sales growth in its outlet stores.

The gross profit margin as a per cent of net sales decreased in the first quarter to 35.0 per cent from 35.9 per cent in the year-earlier period. Margin growth achieved by the company's Newport News and Spiegel divisions was offset by lower margins at Eddie Bauer. Eddie Bauer's margin decline was driven by higher markdowns versus last year.

Michael R Moran, chairman of the office of the president, said: "Given the challenging economic environment, we have intensified our efforts to reduce expenses and conservatively manage our inventory commitments going forward. Although the economic outlook for the second half of the year is uncertain, we have taken important actions in our credit business and our Eddie Bauer division that are expected to positively impact earnings."

The company confirmed its previously issued guidance for the second quarter, calling for modest revenue growth and earnings of $0.02 to $0.05 for the quarter ending June 30, 2001.

Weyco Reports First Quarter Sales And Earnings
Weyco Group Inc, a manufacturer and distributor of men's casual, fashion and dress shoes announced that its net sales for the first quarter of 2001 were $35.358m compared to $41.903m for the same period in 2000.

Net earnings for the first quarter ending March 31, 2001 were $2.341m, down 23 per cent from 2000 net earnings of $3.027m. Diluted earnings per share were down 18 per cent from $.72 per share in 2000 to $.59 per share in 2001.

Wholesale net sales were down 15 per cent from $40.3m in 2000 to $34.1m in 2001. Overall, the decreases in the first quarter were the result of a difficult retail environment. On April 2, 2001, the Company paid a regular quarterly dividend of $.11 per share to shareholders of record March 5, 2001.

Haggar Meets Second Quarter 2001 Earnings Per Share Expectations
Haggar Corp has announced its second quarter and six months results for the period ending March 31, 2001.

For the second quarter of fiscal 2001, before a one-time reorganisation charge, the company reported net sales of $115.791m and net income of $2.016m, or $0.31 on a per share basis. This compares to the second quarter of 2000, in which the company reported $117.068m in net sales and net income of $2.182m, or $0.31 on a per share basis.

For the six months ended March 31, 2001, before the reorganisation charge, the company reported net income of $1.870m on net sales of $215.647m, compared to net income of $2.739m on net sales of $215.750m during the same period in 2000. Earnings for the first six months of fiscal 2001 before the charge were $0.29 on a per share basis, compared to earnings per share of $0.39 in 2000.

JM Haggar III, the company's chairman and chief executive officer, said: "The environment at retail is very tough right now as evidenced by our top line sales being flat to last year for the first six months of fiscal 2001. Our EPS performance for the current quarter met our street expectations. Our solid operational management and cost control, as demonstrated by our SG&A percentage falling two points from last year, have benefited our bottom line."