Bebe Stores, Inc. (NASDAQ:BEBE) had a loss and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Bebe Stores, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.14 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Decreased 9.38% to $119.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bebe Stores, Inc. reported adjusted EPS loss of $0.14 per share. By that measure, the company met the mean analyst estimate of $-0.14. It beat the average revenue estimate of $118.8 million.
Quoting Management: Steve Birkhold, Chief Executive Officer, commented, “Fiscal 2013 was a transformational year for the Company, marked by changes in leadership, strategic direction and brand positioning. During this period, we took necessary action to move through legacy merchandise which led to significant sales and gross margin pressure in the second half of the year. While we continue to clear through legacy merchandise in the first fiscal quarter of 2014 in order to ensure a clean inventory position as we enter the fall/holiday selling season, we also began to introduce product that reflects our new merchandising strategy and we were highly encouraged by the strong response. In addition, we have recently launched our new marketing campaign and completed our website redesign, which garnered favorable reactions from our customers. Looking ahead, we will continue to execute our transitional focuses in branding and product as we move toward a recovery and future long-term sustainable growth.”
Key Stats (on next page)…