* Second-quarter sales $124.6 mln vs est $142.9 mln
* Same-store sales drop 10.5 percent
* Appoints Steve Birkhold as CEO, replacing founder Manny
Jan 3 Women's apparel retailer Bebe Stores Inc
named retail industry veteran Steve Birkhold as its new
chief executive as it looks to turn around its business amid
declines in same-store sales.
The company also reported weaker-than-expected
second-quarter sales, hit by a 15 percent drop in same-store
Birkhold, who replaces founder Manny Mashouf, joins Bebe
from French fashion brand Lacoste, where he was heading its
North American business.
The appointment comes three months after Bebe's board said
it had started a search for a new CEO. The retailer, at the
time, said it was looking for an executive who could build the
brand and lead its strategy of turning into an omni-channel
Omni-channel retailing is a structure which enables
retailers to speed up their supply-chain operations and enables
customers to experience a single mode of shopping whether
online, through catalogs or at brick-and-mortar stores.
The company in November appointed Ben Baum as its chief
digital officer, a move aimed at beefing up its omni-channel
Bebe on Thursday reported sales of $124.6 million. Analysts
on average had expected sales of $142.9 million, according to
Thomson Reuters I/B/E/S.
The company said sales were hurt by lower traffic at stores
open for more than a year and the effects of Hurricane Sandy.
Same-store sales fell 10.5 percent in the quarter.
Bebe's shares, which have lost a third of their value in the
last six months, closed at $4.00 on the Nasdaq on Wednesday.