Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Bebe stores, inc.    

BEBE STORES, INC.
Mes dernières consult.
Most popular
  Report  
SummaryChartsNewsCalendarCompanyFinancials 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Struggling apparel retailer Bebe to shut all stores

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/21/2017 | 07:15pm CEST
A Bebe store logo is pictured on a building along the Lincoln Road Mall in Miami Beach

(Reuters) - Struggling apparel retailer Bebe Stores Inc (>> bebe stores, inc.) said on Friday it would close all its stores by the end of May, barely a month after announcing it was exploring strategic alternatives following four years of losses.

(Reuters) - Struggling apparel retailer Bebe Stores Inc (>> bebe stores, inc.) said on Friday it would close all its stores by the end of May, barely a month after announcing it was exploring strategic alternatives following four years of losses.

The company, which had 180 stores at the end of 2016, did not say what its future plans were.

Bebe also plans to liquidate all merchandise and fixtures within the stores, it said in a regulatory filing. (http://bit.ly/2obl8s3)

Shares of the company, known for its form-fitting dresses and other apparel, hit a 14-month low of $3.02 in morning trading but were later up about 7 percent.

Bebe could consider filing for bankruptcy to settle favorably with landlords of their stores, Joel Levitin, a partner in law firm Cahill Gordon & Reindel's bankruptcy & restructuring practice, said.

All of the company's stores are leased, according to its annual report.

"If the landlords don't deal with them at all or if they are not able to come to a satisfactory solution, then they may need bankruptcy to reduce the amount of damage claims," Levitin said.

Bloomberg reported last month that Bebe was planning to shut stores and seek a turnaround as an online brand to avoid filing for bankruptcy.

"Because there's the threat of bankruptcy, there should be some ability to negotiate with landlords," Levitin added.

A number of apparel retailers have gone bankrupt in the last couple of years, including Aeropostale and The Limited, due to lackluster demand as they battle stiff competition from Amazon.com Inc (>> Amazon.com, Inc.) and fast-fashion retailers such as H&M (>> H & M Hennes & Mauritz AB) and Zara.

More retailers are expected to file for bankruptcy this year, according to industry experts.

"We are witnessing a paradigm shift from bricks and mortar stores to online presences. Not everyone will survive," Anthony Michael Sabino, co-founder of law firm Sabino & Sabino P.C. said.

Bebe expects to recognize an impairment charge of about $20 million from the store closures, which will be recorded in the third and fourth quarters.

The company will also pay advisers B. Riley & Co and Tiger Capital Group LLC $550,000 and 15 percent of the gross proceeds from the sale of store fixtures.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)

By Sruthi Ramakrishnan

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.44% 1610.15 Delayed Quote.36.97%
HENNES & MAURITZ -2.92% 139.88 Delayed Quote.-17.38%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BEBE STORES, INC.
05/11BEBE STORES, INC. : Ex-dividend day for
FA
02/12BEBE STORES : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RE..
AQ
01/16BEBE STORES, INC. : Entry into a Material Definitive Agreement, Termination of a..
AQ
2017BEBE STORES, INC. : Change in Directors or Principal Officers (form 8-K)
AQ
2017BEBE STORES : Announces Intention to Voluntarily Delist from NASDAQ and Begin Tr..
AQ
2017BEBE STORES, INC. (NASDAQ : BEBE) Files An 8-K Notice of Delisting or Failure to..
AQ
2017BEBE STORES, INC. : Notice of Delisting or Failure to Satisfy a Continued Listin..
AQ
2017BEBE STORES, INC. : Announces Intention to Voluntarily Delist from NASDAQ and Be..
BU
2017BEBE STORES, INC. : Submission of Matters to a Vote of Security Holders (form 8-..
AQ
2017BEBE STORES : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RE..
AQ
More news
News from SeekingAlpha
04/26Bebe Stores issues update to shareholders 
01/17B. Riley takes stake in bebe stores 
01/16Midday Gainers / Losers (1/16/2018) 
01/12bebe's Taking An Axe To Costs 
2017Did Wal-Mart Just Move Ahead Of Amazon In The Race To 'Retail 2.0'? 
Chart BEBE STORES, INC.
Duration : Period :
bebe stores, inc. Technical Analysis Chart | US0755712082 | 4-Traders
Income Statement Evolution
Managers
NameTitle
Manny Mashouf Chairman & Chief Executive Officer
Joseph Scirocco Chief Financial & Accounting Officer
Hamid Mashouf Chief Digital & Technology Officer
Corrado Federico Independent Director
Robert C. Galvin Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BEBE STORES, INC.-26.33%80
SHIMAMURA CO., LTD.-5.89%3 937
NINGBO PEACEBIRD FASHION CO LTD21.36%2 476
CHICO'S FAS, INC.14.40%1 313
SHENZHEN ELLASSAY FASHION COLTD6.52%1 293
ARITZIA INC9.77%1 205