Bebe Stores, Inc. Declares Quarterly Cash Dividend, Payable on June 10, 2020
May 13, 2020 at 04:37 pm EDT
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bebe stores, inc. announced that its Board of Directors declared a quarterly cash dividend of $0.06 per share of the Company’s common stock payable June 10, 2020, to shareholders of record as of May 28, 2020. The dividend was reduced from the previous quarter’s dividend of $0.17 per share due to disruption in the retail sales channels caused by Covid-19, which reduced cash flow to licensees of the Company’s joint ventures. The Board of Directors remains committed in principle to paying shareholders substantially all of the Company’s free cash flow via dividends and expects to increase the quarterly cash dividend after the adverse business effects of the Covid-19 virus subside.
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. 
