bebe to Close 25 Stores in 2017
bebe stores, inc. said it will not open any stores in 2017 and will close up to 25 bebe and outlet stores, decreasing total store square footage by 16 percent. The company made the disclosure last Thursday when it posted second-quarter results for sales at its stores. The retailer said Q2 same-store sales fell 10.5 percent, compared to a 2.5 percent decline a year ago, as store traffic improvements were inconsistent and inadequate over the holiday period. For the six months ended Jan. 2, same-store sales decreased 7.4 percent. Net sales during the quarter decreased 16.8 percent from the same period last year.
Total Retail's Take: News around retailers closing stores is becoming all too familiar in 2017. bebe is just the latest to join a growing list that includes Macy's, Sears, . What's more, the brand lost some of its sparkle when its creative director, Neda Mashouf, left after her 2007 divorce from Founder and CEO Manny Mashouf. bebe also faced pressure from private equity investor Consac LLC.
