Bebe Stores (BEBE) Tops Q1 View By A Penny; SSS Down 20%; EPS Could Fall

Bebe Stores (Nasdaq: BEBE) reports Q1 EPS of $0.12, versus the analyst estimate of $0.11. Revenue for the quarter was $163.3 million, versus the consensus of $160.18 million.

Same store sales for the month of October decreased 20%. If this trend continues for the remainder of the quarter, diluted earnings per share will be in the range $0.12 to $0.16, versus $0.26 per share.

Current year guidance is before taking into account any cost associated with the UBS settlement agreement related to a portion of our auction rate securities. The Company is currently anticipating an effective tax rate of 35.0% for the second quarter of fiscal 2008.

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