BEBE STORES, INC.

Retailer bebe stores offers apparel in two main sizes: slim and none. bebe (pronounced "beebee") designs and sells contemporary women's career, evening, and casual clothing and accessories under the bebe and 2b bebe banners through some 250 stores in the US, Canada, and Puerto Rico; abroad through licensees; and online. The company targets hip, "body-conscious" (some say skinny) 21- to 34-year-olds. bebe also licenses its name for items such as eyewear and swimwear. The majority of bebe's products are designed in-house and produced by contract manufacturers. Manny Mashouf, who founded bebe in 1976, controls the company.

Mashouf stepped down as CEO in 2013 and was succeeded by Steve Birkhold, formerly president and CEO of Lacoste North America. Mashouf became non-executive chairman.

Net sales by the women's apparel retailer have fallen about 28%: from more than $687 million in fiscal 2008 (ends June) to about $493 million in fiscal 2011. The company closed about 50 stores over the period and same-store sales logged double-digit declines in two of the last four years. Same-store sales were essentially flat in 2011, suggesting that the worst may be behind bebe.

The retailer shuttered all 49 of its PH8 stores in fiscal 2011, to focus on improving financial performance at its core bebe chain and further develop its 2b bebe business. (The PH8 shops, which sold sexy, casual weekend apparel, work-out clothes, and related accessories, did not meet sales expectations.) The shutdown came not long after the company converted all of its BEBE SPORT stores (launched in 2003) in North America to the PH8 banner. (The company retained the BEBE SPORT trademark however and continues to sell some BEBE SPORT merchandise at its other retail stores.) About 10 more stores are slated to close in fiscal 2012.

While bebe's US store count has declined, it continues to grow its international retail presence, increasing the number of stores operated by licensees from about 50 to 60 locations last year in more than 15 countries including Egypt, Indonesia, Israel, Malaysia, Mexico, Thailand, Turkey, and the United Arab Emirates. Bebe plans to double the number of licensed stores -- both stand-alone and shop-in-shop locations -- in fiscal 2012. New markets will include India and South Korea. Bebe supplies its licensees with apparel, shoes, and accessories. Wholesale revenue accounted for about 6% of the company's total fiscal 2011 net sales.

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BEBE STORES, INC.


400 Valley Dr
Brisbane, CA 94005-1210
Phone: 1 (415) 715-3900
Fax: 1 (415) 7153939
www.bebe.com

STATS


  • Employer Type: Public
  • Stock Symbol: BEBE,
  • Stock Exchange: , NASDAQ
  • Chief Executive Officer; Director: Steve Birkhold
  • Chairman: Manny Mashouf
  • CFO: Liyuan Woo

Major Office Locations

  • Brisbane, CA

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