Call Start: 00:00
Call End: 00:03
bebe stores (NASDAQ:BEBE)
Third Quarter 2013 Retail Sales
April 11, 2013 00:00 AM ET
Walter Parks - COO
Hello and thank you for joining me today for bebe’s fiscal third quarter 2013 retail sales release update. I am Walter Parks, Chief Operating Officer of bebe stores Inc. Let me start with our disclaimer. During the course of this call, we will make projections and or other forward-looking statements regarding future events and the future financial performance of the company. We wish to caution you that such statements are just predictions and that actual events or results may differ materially. We refer you to the company’s Form 10-K, 10-Q and other filings made with the SEC. For additional information on risk factors that could cause actual results to differ materially from our current expectations.
For the third fiscal quarter ended April 6, 2013, bebe retail sales decreased 3.7% to 104 million compared to 108 million for the fiscal quarter ended March 31, 2012. Comparable store sales for the fiscal quarter ended April 6, 2013 decreased 8.6% compared to an increase of 7.2% in the third fiscal quarter of the prior year. Comparable store sales were calculated excluding the additional week included in the month of January. The decrease is primarily driven by 7% comparable store traffic decrease during the quarter with February being the most negative.
Retail sales of the year-to-date period in April 6, 2013 were 333.7 million, a decrease of 8.6% compared to 365 million for the year-to-date period ended March 31, 2012. Comparable store sales for the year-to-date period ended April, 6, 2013 decreased 9.3% compared to an increase of 8.1% for the year-to-date period in March 31st, 2012. In our 78 stores we counted both this year and last, store traffic for the quarter decreased 7% and AUR decreased 5% offset by a 3% increase in units per transaction. As of April 6, 2013, average finished goods inventory per square foot increased approximately 6.8% compared to the prior year. We ended the third quarter of fiscal 2013 with 245 stores, total square footage at the end of the quarter was approximately 983,000.
Thank you for listening to our quarterly sales release call. If you have additional questions, please call to discuss.
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