In Fiscal Year 2017, Bebe Will Reduce Sales Area By 16% And Close 28 Stores.

As of the first quarter of October 1, 2016, the United States

brand

Net loss of Stores Inc. was 777.8 $10 million or earnings per share -0.10 US dollars, narrowing sharply compared with 17 million 141 thousand US dollars in the same period last year or -0.22 per share.

Bebe Stores Inc. chief executive Manny Mashouf said that the group continued to improve in the first quarter. During the period, the cost of inventory or SG&A was reduced, and the gross margin was substantially improved by 260 basis points.

The group will strive to protect

Image, reduce writedowns and increase turnover, and believe that short-term and medium-term pition plans are capable of implementation.

In the first quarter, Bebe Stores Inc. recorded a revenue of US $87 million 238 thousand, a 9.4% decline compared with the same period last year, and a 3.2% decrease in the same store sales, a 31.5% gross profit margin in the same period and a gross profit of 27 million 495 thousand US dollars in the period of Inc..

The group did not release the current quarterly and fiscal year guidelines. It only indicated that there will be no new stores in fiscal year 2017, which will close 28 stores and reduce the sales area by 16%.

In June, Bebe Stores Inc., an embarrassed American women's clothing retailer, made strategic changes after the return of founder Manny Mashouf.

The company took out the company's intellectual property rights and set up a joint venture with the brand management company Bluestar Alliance LLC.

According to the agreement, Bebe Stores Inc. will get more than 50% of the joint venture with Bluestar Alliance LLC and lose its brand intellectual property rights, while Bluestar Alliance LLC will inject $35 million into the joint venture company, and the 35 million US dollars will be pferred to Bebe Stores as a trading fee, while at the same time, the company will get less than 50% stake in the joint venture.