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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%. -
Walmart prevails in union ordeal
Organized labor was dealt a setback in its attacks on Walmart on Thursday when the National Labor Relations Board sided with the retailer in a dispute involving the United Food and Commercial Workers.
The UFCW reached a settlement with Walmart stemming from demonstrations the union organized at various Walmart stores on Black Friday. The protests received considerable media attention at the time as the union sought to persuade Walmart employees to walk off the job on the busiest day of the year.