bebe stores, inc.

CIK:0001059272|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Dec. 30, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales	$ 0	$ 0	$ 0	$ 0
Cost of sales, including production and occupancy	0	0	0	0
Gross margin	0	0	0	0
Selling, general and administrative expenses	2,387	10,875	4,646	20,339
Operating loss	(2,387)	(10,875)	(4,646)	(20,339)
Interest (expense) and other, net	(828)	121	(1,874)	134
Loss from continuing operations, before income taxes	(3,215)	(10,754)	(6,520)	(20,205)
Income tax provision	0	3	0	3
Earnings in equity method investment	2,141	1,029	3,166	1,479
Loss from continuing operations, net of tax	(1,074)	(9,728)	(3,354)	(18,729)
Income (loss) from discontinued operations, net of tax	(190)	4,498	4,752	5,719
Net income (loss)	$ (1,264)	$ (5,231)	$ 1,398	$ (13,009)
Basic per share amounts:
Net loss from continuing operations, net of tax (in dollars per share)	$ (0.13)	$ (1.21)	$ (0.41)	$ (2.33)
Net loss from discontinued operations, net of tax (in dollars per share)	(0.02)	0.56	0.58	0.71
Net income (loss) (in dollars per share)	(0.16)	(0.65)	0.17	(1.62)
Diluted per share amounts:
Net loss from continuing operations, net of tax (in dollars per share)	(0.13)	(1.21)	(0.41)	(2.33)
Net loss from discontinued operations, net of tax (in dollars per share)	(0.02)	0.56	0.58	0.71
Net income (loss) (in dollars per share)	$ (0.16)	$ (0.65)	$ 0.17	$ (1.62)
Basic weighted average shares outstanding (in shares)	8,142	8,040	8,129	8,023
Diluted weighted average shares outstanding (in shares)	8,142	8,040	8,129	8,023
Other comprehensive income (loss)
Foreign currency translation adjustments	$ 15	$ (101)	$ (1)	$ (168)
Other comprehensive income (loss)	15	(101)	(1)	(168)
Comprehensive income (loss)	$ (1,249)	$ (5,332)	$ 1,397	$ (13,177)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ 1,398	$ (13,009)
Adjustments to reconcile net loss to cash used by operating activities:
Gain on sale of assets of discontinued operations held for sale	(6,666)	0
Non-cash compensation expense	244	602
Depreciation and amortization	0	8,527
Non-cash charge for asset impairment	0	2,673
Earnings in equity method investment	(3,166)	(1,479)
Cash receipt from equity method investment	3,516	1,850
Other	0	(259)
Changes in operating assets and liabilities:
Receivables	4,842	91
Inventories	0	5,470
Prepaid expenses and other	428	5,796
Accounts payable	(3,406)	1,607
Deferred rent and other lease incentives	0	(1,542)
Accrued liabilities	(2,859)	2,755
Net cash (used) provided by operating activities	(5,669)	13,082
Cash flows from investing activities:
Purchase of property and equipment	(83)	(1,723)
Proceeds from the sale of assets of discontinued operations held for sale	23,687	0
Net cash provided (used) by investing activities	23,604	(1,723)
Cash flows from financing activities:
Proceeds from issuance of common stock	0	2
Repayment of bridge loan	(18,133)	0
Net cash (used) provided by financing activities	(18,133)	2
Net decrease in cash and equivalents	(198)	11,361
Effect of exchange rate changes on cash	1	(94)
Cash and equivalents:
Beginning of period	17,032	55,525
End of period	$ 16,835	$ 66,792

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 30, 2017	Jul. 01, 2017
Current assets:
Cash and equivalents	$ 16,835	$ 17,032
Receivables	1,202	5,222
Prepaid and other	1,401	1,599
Total current assets	28,051	50,467
Equity method investment	907	1,257
Other assets	576	797
Total assets	29,534	52,521
Current liabilities:
Accounts payable	11,778	15,265
Accrued liabilities	9,212	12,013
Bridge loan, net of issue discount	16,077	33,158
Liabilities of discontinued operations	1,158	1,955
Total current liabilities	38,225	62,391
Non-current note payable	685	1,142
Liability for uncertain tax positions	90	88
Total liabilities	39,000	63,621
Commitments and contingencies
Shareholders’ deficit:
Preferred stock-authorized 1,000,000 shares at $0.001 par value per share; no shares issued and outstanding	0	0
Common stock-authorized 14,000,000 shares at $0.001 par value per share; issued and outstanding 8,114,275 and 8,096,090 shares	8	8
Additional paid-in capital	147,234	146,999
Accumulated other comprehensive income	573	573
Accumulated deficit	(157,281)	(158,680)
Total shareholders’ deficit	(9,466)	(11,100)
Total liabilities and shareholders’ deficit	29,534	52,521
Held-for-sale
Current assets:
Assets of discontinued operations	8,613	25,796
Assets not held-for-sale
Current assets:
Assets of discontinued operations	$ 0	$ 818