Jim Wiggett Named Chief Executive Officer of bebe stores, inc.

Category:

Monday, December 15, 2014 4:00 am PST

Dateline:

BRISBANE, Calif.

Public Company Information:

NASDAQ:
BEBE
"I have tremendous respect for the heritage of the bebe brand and have developed a real affection for the organization. I believe we can be successful both in our turnaround strategy and in positioning our company for long term growth."

BRISBANE, Calif.--(BUSINESS WIRE)--bebe stores, inc. (NASDAQ:BEBE) today announced that Jim Wiggett has been named Chief Executive Officer and appointed to the Company’s Board of Directors, effective immediately. Jim has been serving as Interim Chief Executive Officer since June 2014.

“Since Mr. Wiggett joined as Interim Chief Executive Officer in June, we have been extremely pleased with his contributions and the strategic direction of the Company,” stated Manny Mashouf, Chairman of the bebe Board of Directors. “Jim has made considerable progress in executing our turnaround strategy. We have been impressed with his leadership and results orientation during his interim assignment and are highly confident in his ability to lead the Company. We look forward to the future successes that Mr. Wiggett will bring to the bebe brand.”

“I am delighted with the opportunity to serve as Chief Executive Officer of bebe,” said Mr. Wiggett. “I have tremendous respect for the heritage of the bebe brand and have developed a real affection for the organization. I believe we can be successful both in our turnaround strategy and in positioning our company for long term growth.”

Mr. Wiggett brings 40 years of retail and business experience to bebe. Prior to serving as Interim Chief Executive Officer, he provided advisory services to the Company for five years. Mr. Wiggett founded the Jackson Hole Group, a strategic consulting group in 2002, and previously held a number of senior executive positions, with several high profile companies, including the Charles Schwab Corporation, Duty Free Stores (DFS), and most recently Moet Hennessey Louis Vuitton (LVMH).

Forward-Looking Statements

Certain statements in this release are “forward-looking statements” made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company’s current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected The statements in this news release, other than the historical financial information, contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ from anticipated results. Wherever used, the words “expect,” “plan,” “anticipate,” “believe” and similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties and the Company’s future results of operations could differ materially from historical results or current expectations. Some of these risks include, without limitation, miscalculation of the demand for our products, effective management of our growth, decline in comparable store sales performance, ongoing competitive pressures in the apparel industry, changes in the level of consumer spending or preferences in apparel, loss of key personnel, difficulties in manufacturing, disruption of supply, adverse economic conditions, and/or other factors that may be described in the Company’s annual report on Form 10-K and/or other filings with the Securities and Exchange Commission. Future economic and industry trends that could potentially impact revenues and profitability are difficult to predict. We undertake no obligation to publicly update or revise any forward-looking statement.

About bebe stores, inc.:

bebe stores, inc. is a global specialty retailer, which designs, develops and produces a distinctive line of contemporary women’s apparel and accessories under the bebe, BEBE SPORT and bbsp brand names. bebe currently operates 175 bebe retail stores including the on-line store bebe.com, and 35 bebe outlet stores. These stores are located in the United States, U.S. Virgin Islands, Puerto Rico and Canada. bebe also distributes and sells bebe branded product through its licensees in approximately 23 countries.

Contact:

bebe Stores, inc.
Liyuan Woo, 415-715-3900
Chief Financial Officer