Bebe to Close All Stores by Next Month
April 21, 2017
Brisbane, Calif.-based women’s fashion retailer Bebe has announced plans to shutter all of its locations following a string of losses. USA Today reports that the company signed a deal with liquidator Tiger Capital Group to sell its remaining inventory in order to close its entire portfolio by next month.
Bebe’s sales plummeted 13.5 percent during the first six months of its 2017 fiscal year, posting a net loss of $13 million during that period. The company had netted $22.5 million more in profits only a year prior.
The company comprises between 134 and 180 outposts.
PetSmart Announces Largest E-Commerce Acquisition in History
April 21, 2017 • Retail
Phoenix-based pet retailer PetSmart has announced that it acquired online retailer Chewy Inc. for $3.35 billion.
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