bebe to Exit 2b Business, Cut Jobs

bebe stores announced Friday plans to exit its 2b business as part of the apparel retailer's ongoing turnaround plan to drive long-term growth and sustainable profitability. The move follows a strategic business review that identified key initiatives towards saving costs. "The steps we're announcing today build on our turnaround efforts from the past year," Interim CEO Jim Wiggett said in a statement. "Through the closing of our unprofitable 2b brand, and the cost reduction program, we'll be better positioned financially and structurally to focus on our core bebe brand."