- Bebe stores reported a better than expected net loss of -$5 million or -$0.06 per share vs. a profit of$8.3 million or $0.09 per share YoY.
- Consensus estimate for a loss of -$0.08 per share
- Sales declined 15.8% to $127.7 million from $151.7 million last year. Analysts expected revenue to be $123.7 million.
- Same-store sales dropped 23.5% in the quarter
- Gross margin as a percentage of sales decreased 37.8% from 43.8% in the year earlier quarter from higher markdowns.
- Company now forecasts earnings to be positive again between 2c to 10c in Q4. Compared to 18c / share in the same period last year.
- Bebe expects same-store sales percentage drop in the mid-teens to low-twenties.
Technicals.
Technicals looks favorably well with huge volume piercing through the $8.94 level on Friday after they reported better than expected earnings. Moving average also seems to be flattening out well on the 150MA and 200MA. 10 20 50 have also intersected the 100 and 160 showing favorable moving to the upside. Looks like the bottom has been formed on the $4.60.
Looking for an entry opportunity on Monday if there’s any pull back close to the $9.00 level. Next key level of resistance at $11.15 and minor resistance at $10.20. Fibonacci retracement confirmed the bullish move when it bounced back off the the 23.6% failure rate showing now that there’s more resumption to the upside.
0 comments:
Post a Comment