After 40 years, the contemporary retailer has announced it will close all doors.
Well, it seems plans have changed once again. The company filed documents with the Securities and Exchange Commission signaling its intentions to close all stores by the end of May.
The company is said to be exploring strategic options. No word whether those options might include moving forward as an e-commerce pure-play or a bankruptcy filing—two tactics other beleaguered retailers have taken recently.
Bebe anticipates an impaired charge of $20 million, net of deferred rent and other credits, as a result of the store closings, which will be recorded in the third and fourth quarters of fiscal year 2017.
With increasing pressure from fast fashion chains and evolving consumer tastes, mall-based stores targeting young female shoppers have been struggling lately. Wet Seal, BCBG and The Limited have been among the latest to file for bankruptcy. Bebe, which is known for body conscious dresses, had been trying to pivot its merchandise to attract the atheleisure crowd. But comp sales were down by double digits, and the company reported a negative guidance for the third quarter.
Bebe was launched in 1976 by Manny Mashouf in San Francisco to fit between the juniors market and bridge.
H&M, who regularly touts its circularity efforts, is being called out for allegedly burning 12 tons of new, unsold apparel each year.Read more
Going up against an 800-lb gorilla is a tricky prospect—especially if you’re going it alone so Walmart is wooing traditional retailers into its anti-Amazon online mall.Read more
The New York City Economic Development Corporation is set to open TechShop Brooklyn, a 20,500-square-foot shared advanced manufacturing center at the Brooklyn Army Terminal in Sunset Park on Oct. 30.Read more
By listening to customers and integrating his processes with his partners both up and downstream, Robert D’Loren’s Xcel Brands is moving at the speed of the consumer.Read more
China’s gross domestic product growth remained robust in the third quarter, increasing 6.8% year-on-year, easing marginally from the 6.9% growth recorded in first and second quarters this year compared to a year earlier.Read more
Consider that a child born in the U.S. will create 13 times as much ecological damage over their lifetime as a child born in Brazil, according to the Sierra Club.Read more