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UPDATE 1-Bebe 4th-qtr retail sales fall on lower store traffic
July 9, 2012 / 8:53 PM / 5 years ago

UPDATE 1-Bebe 4th-qtr retail sales fall on lower store traffic

* Q4 retail sales fell 2.5 pct to $119.1 mln

* Same-store sales down 2.5 pct

July 9 (Reuters) - Women’s apparel retailer Bebe Stores Inc 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.

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