Report: Bebe considering sale
Brisbane, Calif. – Bebe Stores Inc. is reportedly considering selling the business. According to Reuters, an anonymous source with inside knowledge said Bebe has hired Guggenheim Securities to help evaluate a possible sale.
Neither Bebe nor Guggenheim commented on the article. Bebe has experienced some recent financial disappointment. During the second quarter of fiscal 2014, Bebe reported a net loss of $5.5 million. Net sales declined 4.1% to $130 million, from $135.5 million reported for the second quarter a year earlier and same-store sales decreased 1.9%. Bebe expects flat same-store sales for the third quarter of fiscal 2014.
For the remainder of fiscal year 2014, the company plans to close up to six Bebe stores and one 2b Bebe store, which will result in approximately an 8% decrease i6 total store square footage from the end of fiscal year 2013.