Bebe fourth-quarter retail sales fall on lower store traffic
(Reuters) - Women's apparel retailer Bebe Stores Inc (BEBE.O) said retail sales for the fourth quarter fell 2.5 percent hurt by waning store traffic.
Retail sales from continuing operations fell to $119.1 million for the fourth quarter from $122.4 million a year earlier, said the retailer, which had fallen out of favor with its clientele due to fashion missteps.
Store traffic fell 12 percent.
Same-store sales, which includes online stores, were down 2.5 percent and inventory per square foot increased about 2 percent.
Bebe discontinued its unsuccessful PH8 brand and has attempted to regain its core customers, who looked for cheaper alternatives.
The Brisbane, California-based company's shares were down 5.6 percent after closing at $5.69 on Monday on the Nasdaq.
(Reporting by Juhi Arora in Bangalore; Editing by Don Sebastian)
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