BANGALORE (Reuters) - Mall-based women's apparel retailer Bebe Stores Inc (BEBE.O) said it will convert its existing Bebe Sport stores into PH8, a new retail concept, in November.
The Brisbane, California-based company said the PH8 stores will replace the existing 62 Bebe Sport stores in the United States and Canada, and will sell "active street wear and performance products."
"We know it (Bebe Sport) has taken a downturn over the last couple of years," B. Riley & Co analyst Jeffrey Van Sinderen told Reuters. "Bebe Sport was a lot about logos, and logos are not as important to their customers."
Earlier in July, Wall Street Strategies' Brian Sozzi had raised concerns about the future of Bebe Sport line, which has been underperforming for the past two years.
The retailer said it will maintain the Bebe Sport trademark and will sell some Bebe Sport products out of its Bebe retail stores.
Bebe's shares closed at $6.07 Tuesday on Nasdaq.
(Editing by Unnikrishnan Nair)
http://www.bzzagent.com/ap/ApHome.do?action=framedetail&ident=new-concept-to-replace-bebe-sports
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