Bebe Merchandise Chief Leaves as Sales Slide
Bebe Stores Inc. announced that Chief Merchandise Officer Dyan Jozwick “was no longer with the company” as of Nov. 11. According to the Bebe statement, Jozwick’s duties will be taken over by the existing management team of the Brisbane, Calif.–based retailer of contemporary women’s fashions. After Jozwick’s departure, the company will “assess” its merchandising structure. Bebe runs 308 stores across the United States.
Changes in Bebe’s merchandising are needed, according to retail analyst Christine Chen of San Francisco–based Needham & Co. LLC. She wrote in a Nov. 7 research note that “Bebe has the potential to turn around its business hellip; by fixing merchandise through better execution.”
Like many businesses, Bebe experienced weak sales over the past three months. On Nov. 18, Bebe Chief Executive Gregory Scott discussed first-quarter results in a conference call. He said comparable-store sales decreased 10.8 percent in the first fiscal quarter, which ended Oct. 4, compared with a decline of 9.3 percent in same-store sales in the same time the previous year.
“We are not satisfied with our results this quarter,” Scott said. “We will be continuing to take steps to manage the business through this difficult retail and economic environment.” —Andrew Asch
