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bebe stores inc. (BEBE) filed Quarterly Report for the period ended 2011-12-31.
Bebe Stores Inc. has a market cap of $751.4 million; its shares were traded at around $8.91 with a P/E ratio of 63.8 and P/S ratio of 1.5. The dividend yield of Bebe Stores Inc. stocks is 1.1%.
This is the annual revenues and earnings per share of BEBE over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of BEBE.
Highlight of Business Operations:
Net Sales. Net sales from continuing operations increased to $152.0 million during the three months ended December 31, 2011 from $136.2 million for the comparable period of the prior year, an increase of $15.8 million, or 11.6%. The increase in net sales was primarily due to a 9.6% increase in comparable store sales driven by better customer acceptance of our bebe and 2b merchandise, as well as a $2.9 million increase in wholesale sales to our international licensees.For the six months ended December 31, 2011, net sales from continuing operations increased to $278.3 million from $251.5 million for the comparable period of the prior year, an increase of $26.8 million, or 10.7%. The increase in net sales was primarily due to an 8.4% increase in comparable store sales driven by better customer acceptance of our bebe and 2b merchandise, as well as a $6.3 million increase in wholesale sales to our international licensees.
Gross Margin. Gross margin from continuing operations increased to $60.9 million during the three months ended December 31, 2011 from $50.5 million for the comparable period of the prior year, an increase of $10.4 million, or 20.6%. As a percentage of net sales, gross margin increased to 40.1% for the three months ended December 31, 2011 from 37.1% in the comparable period of the prior year. The increase in gross margin as a percentage of net sales was primarily due to an increase in merchandise margin, coupled with a positive occupancy leverage, partially offset by an increase in reserves and write offs. The increase in merchandise margin was fueled by lower markdowns, partially offset by the growth of 2b and international wholesale sales which were at a lower merchandise margin.
Selling, General and Administrative Expenses. Selling, general and administrative expenses from continuing operations increased to $49.9 million during the three months ended December 31, 2011 from $48.0 million for the comparable period of the prior year, an increase of $1.9 million, or 4.0 %. As a percentage of net sales, selling, general and administrative expenses decreased to 32.8% during the three months ended December 31, 2011 from 35.2% in the comparable period of the prior year. The decrease over the prior year was primarily due to insurance proceeds combined with lower impairment and store closure costs. The dollar increase over the prior year was primarily due to higher compensation expenses partially offset by insurance proceeds combined with lower impairment and store closure costs.
For the six months ended December 31, 2011, selling, general and administrative expenses from continuing operations increased to $97.0 million from $94.3 million for the comparable period of the prior year, an increase of $2.7 million, or 2.9%. As a percentage of net sales, selling, general and administrative expenses decreased to 34.8% from 37.5% in the comparable period of the prior year. The decrease over the prior year primarily related to insurance proceeds combined with lower impairment and store closure costs. The dollar increase over the prior year was primarily due to higher compensation expenses partially offset by insurance proceeds combined with lower impairment and store closure costs.
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