Bebe stores swings to loss in Q1

Brisbane, Calif. -- Bebe stores reported Friday a net loss of $2.6 million for the quarter ended Sept. 29, compared with net income of $2.4 million for the year-ago period.

Sales slipped 7.3% to $117.1 million from $126.3 million, and same-store sales dropped 8.7%.

During the quarter, the company opened five 2b stores and closed seven Bebe stores, and said it expects to open five Bebe stores and one 2b store in fiscal 2013 as well as close five Bebe stores and one 2b pop-up store.