Bebe posts Q3 loss, names new exec

Brisbane, Calif. Bebe Stores blamed higher-than-expected expenses for a $5.0 million loss, compared with a profit of $8.3 million for the fiscal third quarter, ended April 4.

The apparel retailer’s sales dropped 16% to $127.7 million, compared with $151.7 million for the same period a year ago. Same-store sales fell 23.5% for the quarter.

During this period, the chain opened one 2b bebe store, and closed three bebe stores and two Sport stores, due to expired leases that were not renewed. It also converted one bebe outlet store to a 2b bebe store, a move that resulted in a total square foot reduction of 1%. At the end of the quarter, the chain operated 308 stores.

In other news, the chain appointed Tara Poseley as president of Bebe Sport, the company’s active- and athletic-wear banner. Poseley will oversee the creative direction and operations for the brand.

A retail veteran with 20 years experience, Poseley spend the last two years as president of Disney Stores North America.