UPDATE 1-Bebe Q4 same-store sales fall 29.2 pct

* Q4 sales drop about 25 pct

* Sees Q4 EPS at or below the low end of prior view

July 9 (Reuters) - Mall-based women's apparel retailer Bebe Stores Inc (BEBE.O) said it may post fourth-quarter earnings below its earlier forecast as sales at stores open at least a year slumped 29.2 percent.

For the fourth quarter ended July 4, the company expects earnings per share, before special items, to be at or below the low end of the range of 2 cents to 10 cents per share.

The Brisbane, California-based company said retail sales fell about 25 percent to $125.3 million during the quarter.

Shares of the company closed at $6.08 Wednesday on Nasdaq. (Reporting by Viraj Nair; Editing by Anne Pallivathuckal)