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."
Apparel retailer bebe announced Thursday that CEO Steve Birkhold has resigned, effective today. Birkhold will be succeeded by Jim Wiggett, currently CEO of Jackson Hole Group, as interim CEO. The company noted that it will commence a search for a permanent CEO. "On behalf of the board of directors, we're excited to welcome Jim to the team. Jim is a highly accomplished executive, with proven leadership capabilities, retail and merchandising expertise, and a wealth of strategic business knowledge, and we look forward to his insights into the strategic direction of the company," bebe Chairman Manny Mashouf said in a statement.