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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%. -
Perrigo buys another pet care company
Leading private label supplier Perrigo has acquired pet health company Velcera for $160 million.
The deal follows last fall’s acquisition of Sergeants and signals Perrigo’s intent to accelerate growth in areas beyond its traditional businesses of consumer health care, nutrition products and prescriptions. Velcera is a pet health company best known for is PetArmor brand of flea and tick products that are widely available at retailers nationwide, much to the chagrin of veterinarians. PetArmor’s had sales of $60 million last year.