NEW YORK — Bebe Stores Inc. has issued its second profit warning for the just-concluded third quarter.
The Brisbane, Calif.-based specialty retailer of contemporary women’s apparel and accessories blamed the downwardly revised guidance, its second over the last two months, on $800,000 of charges related to "abandoned information technology projects" and another $800,000 for the write-off of obsolete inventory.
The company now anticipates earnings for the quarter ended in March to be in the range of breakeven to 2 cents a share, below the current consensus estimates of 4 cents.
This follows Bebe’s previous warning March 13 that it expects earnings to be in the range of 3 to 5 cents, far below year-ago earnings of 15 cents and consensus estimates at that time of 11 cents.
Also, on March 3, in announcing a February comparable-sales decline of 15.2 percent, Bebe said it anticipated its comps for the March quarter to be in the negative low- to mid-teens, from negative high-single digits. Its March comps fell 10.5 percent.
Bebe, which operates 177 stores, is expected to report its financial results on April 24.
The retailer in the last month has announced a number of new executive appointments. Ferrell Ostrow was named vice president of store operations after serving as the active supervisor of that area since February. Previously, he’d been vice president of loss prevention since March 1999.
Also, Paul Mashouf, a 13-year veteran of the firm founded by Manny Mashouf, his father, was promoted to vice president of sourcing. He’d been acting vice president of the area since December.
There has been a revolving door at Brisbane, Calif.-based Bebe for the better part of two years. John Parros stepped down as president last May after less than two years on the job, and Monah Li left the firm as head designer in December 2001 after a year with Bebe. Paul Mashouf’s appointment followed the departure of Jamel Bennoui, who left the firm after three months as vice president of manufacturing.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)