Say it ain't so!

After only a year, reports claim Kim, Kourtney and Khloe Kardashian's exclusive Bebe line may soon be headed for the after-Christmas clearance racks!

At a recent preview for the newest Kardashians by Bebe line in L.A., Bebe's president Emilia Fabricant hinted the collection probably wouldn't continue much longer, telling WWD, “The sisters do still have relevance but at Bebe we need to move with fashion and we want to be first in the fashion world with everybody else and not fall behind. We are definitely assessing the situation.” That doesn't sound good!

BUT, a Bebe spokesperson tells us that isn't exactly what Mr. Fabricant! The company put out this official statement today: "We are very pleased with the performance of the ‘Kardashians for bebe’ apparel collection and have immensely enjoyed our design collaboration with Kim, Khloe and Kourtney. They are terrific brand ambassadors and resonate really well with our clients. Our original ready to wear agreement with the Kardashians began last February and will conclude with the upcoming Resort Delivery. However, throughout this past year we have also added shoes, handbags and jewelry to the collaboration and are in the process of assessing a potential go-forward strategy in these areas."

At least Khloe and Kourtney are still actively plugging their line. In true Kardashian-family-fashion, the girls tweeted/advertised their appearance at an LA-area mall last night where they unveiled another overpriced collection -- minus Miss Kim K who is probably way too busy and over it by now.

Unfortunately this isn't the first negative news the girls have gotten this week. It seems their NYC store Dash is not a place they would actually shop. A report Thursday from the New York Times Critical Shopper column basically rips Dash to pieces, noting, "There is...the matter of taste. Dash is a fashion desert, just oodles of drapey cowl necks and embellished cap sleeves and synthetic fibers. Clothes are essentially split into two categories of fit: vacuum-sealed and hot-air balloon...You could wear this look, in the same way you could hire an enthusiastic 5-year-old as your stylist."

Who doesn't like cowl necks and synthetic fibers? Kardashian fans must eat it up, because Dash in NYC has been making $50,000 in merchandise sales a day since it opened Nov. 3.

As for Black Friday? They sold about $100,000 in vacuum-sealed/hot-air balloon sized-stuff. Not too shabby!