NEW YORK (Thomson Financial) - Bebe Stores Inc. Thursday said third-quarter
same-store sales fell 7.6%.
Total sales for the quarter fell to $147.5 million from $151.3 million a
year earlier, and missed the mean estimate of analysts polled by Thomson
Financial for third-quarter sales of $156.4 million.
As of April 5, Bebe said it had investments in money market funds and
auction rate securities, or ARS, of about $354 million of which about $271
million were invested in auction rate securities.
Bebe said beginning Feb. 12 through April 5, it experienced failed auctions
for its ARS investments. But the company believes the current lack of liquidity
relating to its ARS investments won't have an impact on its "ability to fund
ongoing operations and growth initiatives."
Bebe shares closed at $10.27 on Wednesday.
Christie Rizk
cr/jw
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