Bebe Slashes 1Q Loss on Ph8 Closures, Tighter Costs

Bebe (NASDAQ:BEBE) revealed Thursday a narrowed first-quarter loss on tighter expenses and store closures, however earnings still only matched expectations, sending shares tumbling more than 9%. The Brisbane, Calif-based company posted a net loss of $1.15 million, or a penny a share, compared with a loss of $4.18 million, or 5 cents a share, in the same quarter last year, matching the Street’s view. Revenue for the designer of women’s apparel and accessories was $117.9 million, down 2.4% from $120.8 million a year ago, beating the Street’s view of $114.8 million.