- Bebe Stores (NASDAQ:BEBE) and B. Riley issue an update to shareholders.
- “With guidance from B. Riley, we have put in place plans to substantially streamline operations to achieve significant cost savings that will enable us to deliver additional value to our shareholders," says bebe CEO Manny Ramirez.
- The company says it generated $2.1M of licensing income from BB Brand Holdings LLC, bebe’s operating subsidiary which is 50 percent jointly owned by Bluestar Alliance LLC. bebe intends to distribute proceeds from its share of licensing income net of company operating expenses to shareholders on a quarterly basis beginning in FQ1 of 2019.
- The retailer says its former headquarters in Los Angeles is under contract to be sold for a price of $28.5M. The sale of the property is expected to close on May 21.
- The bebe board has approved a one-time special cash dividend of $0.50 per share.
- Source: Press Release
- Now read: Ross Stores (NASDAQ:ROST): One Of Few Retailers Still Gaining Apparel Market Share
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