bebe stores, inc announced sales results for the third quarter ended April 5, 2014. The company's comparable store sales for the quarter ended April 5, 2014 decreased approximately 5.7%. Net sales were approximately $93 million, a decrease of 17.2% from $113 million reported for the third quarter a year ago. The sales decrease was due partially to one less retail week in January in the current fiscal year coupled with the closure of 19 unproductive stores since the prior year third fiscal quarter. The company's sales results were also negatively impacted by extreme weather throughout the fiscal third quarter this year with up to 136 weather-related temporary store closures. In addition, the company believes that the timing of Easter in late April had a greater than expected negative impact on sales in the quarter, specifically in the outlet locations. Comparable store sales and traffic in outlet stores were down in the mid-teens for the quarter.

The company provided earnings guidance for the fiscal third quarter ended April 5, 2014. The company announced that the gross margin rate is expected to be below that of the prior year due to deleveraging of sales. As a result of these factors, net loss per share for the quarter is now expected to be in the $0.29 to $0.32 range. This assumes estimated non-cash impairment charges for bebe, 2b and outlet stores of up to $0.04 per share.