Bebe Stores Inc. posted improved second-quarter results that narrowed its loss from a year ago.
For the three months ended Jan. 3, the net loss was $385,000, or 0 cents a diluted share, from a loss of $5.5 million, or 7 cents, a year ago. Net sales rose 4.6 percent to $128.9 million from $123.3 million.
Jim Wiggett, chief executive officer, said, “Our comparable-store sales increased 8 percent, driven by strong sell-through of our merchandise across all regions. We also delivered gross margin expansion resulting from a higher percentage of full-price sales compared to last year, which also contributed to the improved earnings performance.”
The ceo said the company ended the quarter with “clean inventory levels” and a merchandise assortment that he said will “help to drive continued momentum for the company.”
He said the top priorities remain to “drive improved results in both sales and gross margin, as well as to preserve cash, and we believe we are headed in the right strategic direction to achieve these objectives.”