Bebe Stores Appoints Ex-Lacoste Executive as CEO

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 traffic. Birkhold, who replaces founder Manny Mashouf, joins Bebe from French fashion brand Lacoste, where he was heading its North American business.