Bebe to exit 2b business & focus on retail & outlet stores

28 Jun '14

4 min read

“We will also continue to focus on our merchandising, marketing and operational strategies designed to reposition the bebe brand. We thank the affected employees for their efforts and dedication. This is a difficult step, but important to the long term success of our brand. As we prepare for the next fiscal year, we continue to evaluate our cost structure, capital expenditure requirements and dividend payments, and we will remain focused on carefully managing expenses and inventories, as well as preserving our cash."

For the fourth quarter of fiscal 2014, the Company now expects comparable store sales to be in the negative low single digit range. Despite the slightly lower than expected comparable store sales performance, the Company continues to expect loss per share to be in the mid-teen range prior to any non-recurring expenses. Finished goods inventory per square foot as of the end of fiscal fourth quarter 2014 is anticipated to increase in the mid to high-single digit range as compared to the same period last year.

About bebe stores, inc.

bebe stores, inc. is a global specialty retailer, which designs, develops and produces a distinctive line of contemporary women’s apparel and accessories under the bebe, BEBE SPORT, bbsp and 2b bebe brand names. bebe currently operates 224 stores, of which 174 are bebe stores, including the on-line store bebe.com, 34 bebe outlet stores, and 16 2b bebe stores including the on-line store 2bstores.com scheduled to be closed on July 5, 2014. These stores are located in the United States, U.S. Virgin Islands, Puerto Rico and Canada. bebe also distributes and sells bebe branded product through its licensees in approximately 26 countries.

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