Bebe posts Q3 loss

Brisbane, Calif. -- Bebe Stores Inc. reported a loss of $11.2 million in its third quarter, citing port delays and prolonged cold weather that also created pressure on sales.



Net sales for the quarter, ended April 30, increased 4.1% to $92.7 million, as compared to $89.0 million in the year-ago period. Same-store sales increased 1.2%.



“Our third quarter results reflect continued progress in our turnaround with the third consecutive quarter of comparable store sales growth despite significantly fewer promotions and a meaningful reduction in marketing spend," said Jim Wiggett, CEO. "Our efforts to enhance our merchandise assortment combined with a more disciplined approach to inventory management and improved product flow enabled us to achieve higher full price sell-through, which in turn benefited our gross margin rate.”