- Bebe Stores (OTC:BEBE) says it plans to exit its 2b business, which sells cheaper clothing and apparel for women compared to its namesake chain, to cut costs and focus on its core brand.
- BEBE says the exit will lead to annual pretax savings of $9M-$10M beginning in FY 2015; it expects to record pretax charges of $5M-$6M to close the remaining 16 2b mall stores and write off or liquidate inventory.
- BEBE also expects overall FQ4 comparable sales to fall by a low single digit percentage, and sees EPS losses in the mid-teens.