Bebe Stores
Download Infinite Stratos Season 2 Ova Sub Indo Mp4 Download. Amid speculation that will shutter all of its shops to become an online-only retailer, the specialty women's apparel chain says it has committed to closing 21 locations. That represents some 12 percent of its outlets. In a filing with the Securities and Exchange commission on Wednesday, Bebe said it will incur an impairment charge of approximately $2 million from the closures. It will pay a termination fee of roughly $7.4 million.
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. Mar 21, 2017 Bebe Stores Inc., a women’s apparel chain with locations across the U.S., is planning to shut its stores and seek a turnaround as an online brand.
The company, which is in the process of exploring strategic alternatives for its business, will continue that work with its remaining stores, it said in the filing. A spokeswoman for Bebe did not immediately respond to CNBC's request for additional information. Speculation has been swirling that Bebe could be one of the next retailers to join a growing list of companies that have filed for Chapter 11 bankruptcy protection this year. Download Patch Game Sword Art Online For Pc here. That includes Payless ShoeSource,. That Bebe was planning to close all of its stores and hoped to do so without having to file for bankruptcy.
Net sales at Bebe tumbled 13.5 percent in the first six months of its current fiscal year, which ended Dec. It recorded a net loss of $13 million over that same period.
Women's clothing retailer is closing all of its stores, according to a Friday filing with the Securities and Exchange Commission. The company said Friday it expects to shutter all of its brick-and-mortar locations by the end of May. The chain had it was committed to closing 21 locations, which represented roughly 12 percent of its total outlets. California-based Bebe had 180 stores at the end of 2016, according to its website. This news came as Bebe explained it was in the process of exploring strategic alternatives for its business, amid much speculation the company would transition to an online-only model.
Bebe said Friday it expects to recognize an impairment charge of approximately $20 million, net of deferred rent and other credits, as a result of closing the remainder of its stores. This impairment charge will be recorded in the third and fourth quarters of this year, according to the SEC filing.
Bebe's stock initially fell more than 4 percent Friday morning in premarket trade on this news, after closing at $3.76 per share on Thursday. The stock closed over 6 percent higher at $4 per share on Friday. Bebe didn't immediately respond to CNBC's request for comment. Additional speculation has been swirling of late that Bebe could be one of the next retailers to join a growing list of companies that have filed for Chapter 11 bankruptcy protection in 2017. That list includes Payless ShoeSource, which announced earlier this month it will close some 400 stores in an attempt to reorganize. Growing competition from e-commerce giant, as well as millennial-focused fashion retailers H&M and Zara, has played a role in this trend.
That Bebe was planning to close all of its stores and hoped to do so without having to file for bankruptcy. The company didn't specify Friday what its future plans are. — CNBC's Krystina Gustafson and Courtney Reagan contributed to this report.