bebe stores (NASDAQ: BEBE) reported Q2 EPS of $0.02, $0.04 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $128.9 million versus the consensus estimate of $126.7 million.

Third quarter and fiscal 2015 guidance:

For the third quarter of fiscal 2015, the Company expects comparable store sales to be in the low to mid-single digit positive range. Gross margin is expected to be higher than the prior year due to the increased effort in margin optimization and fewer planned promotional activities. The Company expects net loss per share to be in the mid-teens range as the third quarter is historically the lowest volume quarter and therefore it expects to see deleveraging on fixed costs. The expected net loss per share range also reflects the continuing impact of maintaining a valuation allowance against deferred tax assets, and thus a close to 0% effective tax rate.

Finished goods inventory per square foot as of the end of the third quarter of fiscal 2015 is anticipated to increase in the mid-teens range compared to the third quarter of fiscal 2014. The increase in inventory is primarily due to shift in floor set planning for the calendar year 2015 including Easter shift, which resulted in accelerated receipt timing, coupled with a cost per unit increase for made for outlet products.

Total capital expenditures for the year are anticipated to be approximately $18 million for new stores, remodels and information technology systems.

For the second half of fiscal year 2015, the Company plans to open three bebe stores, one outlet store, and to close up to six more bebe and outlet stores, which will result in an approximately 3% decrease in total store square footage as compared to the end of fiscal year 2014

For earnings history and earnings-related data on bebe stores (BEBE) click here.