Bebe Stores Q4 profit doubles, plans net new store growth
Brisbane Calif. -- Bebe Stores reported Thursday that profit for the fourth quarter doubled to $4.7 million, from $2 million in the year-ago period.
Revenue rose 8% to $132.3 million, compared with $122.1 million last year and beating Wall Street expectations of $126.1 million. Same-store sales grew 7%.
For the year, the company narrowed its loss to $1.8 million, from $5.2 million in fiscal 2010. Annual revenue increased 3% to $493.3 million.
Bebe said it expects to open four Bebe stores and as many as seven 2b stores in the new fiscal year. That includes two stores that could be converted from Bebe to 2b. It plans to close 10 Bebe locations, representing a sq. ft. dip of 2%. International licensees are expected to add up to 30 standalone stores and 30 shop-in-shops.