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By
Reuters
Published
Aug 26, 2011
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Bebe Q4 beats Street view

By
Reuters
Published
Aug 26, 2011

August 26 - Bebe Stores Inc's quarterly profit from continued operations beat estimates as more women shopped at its stores, and the apparel retailer forecast first-quarter earnings largely below expectations.

bebe
The first Bebe store was opened in San Francisco in 1976.

For the first quarter, Bebe forecast net results between a loss of 1 cent per share and a profit of 1 cent per share.

Analysts, on average, were expecting a profit of 1 cent a share, according to Thomson Reuters I/B/E/S.

It expects comparable store sales in the positive mid-single digit range during the quarter.

For the fourth quarter, from continuing operations the company earned $4.7 million, or 6 cents a share, compared with $5.4 million, or 6 cents a share, last year.

Bebe, which caters to 21-to-34-year-olds with its fashionable party and professional wear, saw sales from continuing operations rise 8.3 percent to $132.3 million.

Analysts, on average, had expected it to earn 4 cents a share, on revenue of $127.3 million.

Same-store sales for the quarter rose 7 percent as Bebe tried to correct fashion missteps and woo back its clientele's favor by looping in celebrities like Kim Kardashian to promote and design its lines and discontinuing its underperforming PH8 line.

Shares of the Brisbane, California-based company closed at $6.26 on Thursday on Nasdaq.

(Reporting by Ranjita Ganesan; Editing by Sriraj Kalluvila)

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