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Bebe records Q2 loss on discounting and falling sales
Brisbane, Calif. -- Bebe Stores Inc. swung to a loss in its fiscal second quarter from a profit a year ago amid heavy discounting during the holiday shopping season.
Bebe said it lost $4.8 million for the three months that ended Dec. 29, according to preliminary results, versus a profit of $6.5 million a year earlier.
Net sales dropped 11% to $135.5 million. Same-store sales fell 10.5%. -
Home Depot makes sense of penny phase-out
TORONTO — The Home Depot Canada has joined other Canadian retailers in complying with the government's planned phase out of the penny.
However, the retailer noted that many Canadians were unaware of the phase-out, and wanted to ensure its customers that it is doing its best to inform them of the change. As of Feb. 4, the penny will no longer be in circulation.