Bebe stores, inc. Announces Quarterly Cash Dividend
February 08, 2023 at 09:01 pm EST
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Board declares quarterly cash dividend of $0.02 per share
bebe stores, inc. (OTCQB:BEBE) (the “Company”) today announced that its Board of Directors declared a quarterly cash dividend of two cents ($0.02) per share of the Company’s common stock payable March 3, 2023, to shareholders of record as of February 17, 2023. The primary constraints to the Company’s cash flow that led to a lower dividend this quarter were increased investments in our existing Buddy’s store operations and higher debt servicing expenses. The Company believes these investments in operations will increase its long-term earnings potential and have a positive effect on future cash flows and dividends.
About bebe stores, inc.
bebe is a global specialty licensor of fashion apparel and accessories that distributes bebe-branded products worldwide through licensees in approximately 100 international stores and online. bebe also owns and operates, through subsidiaries, approximately 60 rent-to-own Buddy’s Home Furnishings franchise stores located in the Southeastern U.S., offering furniture, appliances and electronics to consumers through rent-to-own agreements, along with other investments in brand royalty joint ventures.
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bebe stores, inc. is primarily engaged in the business of operating retail rent-to-own franchise stores. The Company's rent-to-own Buddy's franchise stores offer furniture, appliances, and consumer electronics to consumers through rent-to-own agreements. The Company leases space for all of its Buddy's franchise stores under operating leases. It offers various product categories, including Featured, New, Clothing, Dresses, Denim, Shoes, and Accessories. Its Featured category includes Bandage Dresses, Bridal, Fall, and Halloween, among others. Its Clothing category includes Tops, Bottoms, Denim, Jackets, and Activewear, among others. Its Dresses category consists of Bandage Dresses, Bodycon Dresses, Denim Dresses, Little Black Dresses, Logo Dresses, Mini Dresses, Midi Dresses, Maxi Dresses, and others. Its Accessories include Bags, Belts, Hats, Shoes, Sunglasses, Watches. The Company operates approximately 64 stores in 12 states in the southeastern United States.