** charts after earnings **
bebe stores reports EPS in-line, misses on revs; guides Q2 EPS below two analyst estimate; Q1 comps -4.1% :
- Reports Q1 (Sep) loss of $0.16 per share, excluding non-recurring items, in-line with the two analyst estimate of ($0.16); revenues fell 5.8% year/year to $96.3 mln vs the $97.69 mln two analyst estimate. Q1 comps -4.1% vs +0.7% last year. Gross margin decreased to 28.9% vs 32.1% last year.
- Co issues downside guidance for Q2, sees EPS of ($0.12) - ($0.06) vs. $0.02 two analyst estimate.
- Co expects comparable store sales to be in the negative high single digit range due to the current sales trends, recent merchandising process changes and the related product cancellations which began in October 2015. Gross margin is expected to be slightly lower than the prior year due to the anticipated promotional activities to clear the inventory for this period.
- For FY16, co plans to open four bebe stores and four outlet stores, and to close up to 30 bebe and outlet stores.
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