Bebe stores, inc. Announces Special Cash Dividend, Payable on October 24, 2018; Announces Changes to the Board of Directors
September 28, 2018 at 06:30 pm EDT
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bebe stores, inc. announced that its Board of Directors declared a special cash dividend of $0.25 per share of the Company's common stock. The dividend is payable on October 24, 2018 to shareholders of record at the close of business on October 10, 2018.
The company also announced the changes to its Board of Directors, each of which will be effective September 30, 2018: Robert Galvin will resign from the Board and be replaced by Darrin Klotz; Nick Capuano will be appointed Chairman of the Board, and will continue to be joined on the Board by Manny Mashouf, Corrado Federico and Kenny Young; and the Board will dissolve the Nominating and Corporate Governance Committee and the Compensation Committee. Mr. Darrin Klotz co-founded Lido Equities Group, Inc. and has served as President since the incorporation in 1990.
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.
BEBE STORES, INC. 
