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Friday, June 27, 2014

Bebe Stores to exit 2b bebe affordable apparel business, (NASDAQ: BEBE)

Women's apparel retailer Bebe Stores Inc said it would exit its unprofitable "2b bebe" business, under which it sells affordable apparel and accessories, by July to focus on its core businesses and to cut costs. The company said the exit would lead to annual pretax savings of about $9 million-$10 million beginning in fiscal 2015.

bebe stores, inc. designs, develop and produce a distinctive lines of contemporary women's apparel and accessories. Shares of BEBE traded higher by 0.64% or $0.02/share to $3.15. In the past year, the shares have traded as low as $3.07 and as high as $7.03. On average, 483577 shares of BEBE exchange hands on a given day and today's volume is recorded at 1245616.