bebe stores, inc. Sells its Interests in bebe and Brookstone Brands for $46.6 million in Cash and Declares Special Dividend of $2.00 per Share
bebe stores has announced the sale of its membership interests in the bebe and Brookstone brand joint ventures for $46.624 million in cash. The company owned 50% and 28.5% stakes respectively. Following the sale, bebe has cleared all outstanding debt and declared a special cash dividend of $2.00 per share, payable on November 22, 2024, to shareholders of record as of November 11, 2024. After the dividend payment, the company will maintain approximately $8.5 million in cash reserves to support operations of its 60+ Buddy's Home Furnishings franchise stores and corporate expenses.
bebe stores ha annunciato la vendita delle sue partecipazioni nel joint venture dei marchi bebe e Brookstone per 46,624 milioni di dollari in contanti. L'azienda deteneva il 50% e il 28,5% delle partecipazioni rispettivamente. A seguito della vendita, bebe ha estinto tutti i debiti residui e ha dichiarato un dividendo straordinario in contante di 2,00 dollari per azione, pagabile il 22 novembre 2024, agli azionisti registrati al 11 novembre 2024. Dopo il pagamento del dividendo, l'azienda manterrà circa 8,5 milioni di dollari in riserve di cassa per sostenere le operazioni dei suoi oltre 60 negozi in franchising Buddy's Home Furnishings e le spese aziendali.
bebe stores ha anunciado la venta de sus participaciones en las empresas conjuntas de las marcas bebe y Brookstone por 46.624 millones de dólares en efectivo. La empresa poseía el 50% y el 28.5% de participación respectivamente. Tras la venta, bebe ha saldado toda su deuda pendiente y ha declarado un dividendo en efectivo especial de 2.00 dólares por acción, que se pagará el 22 de noviembre de 2024, a los accionistas registrados a partir del 11 de noviembre de 2024. Después del pago del dividendo, la empresa mantendrá aproximadamente 8.5 millones de dólares en reservas de efectivo para apoyar las operaciones de sus más de 60 tiendas franquiciadas Buddy's Home Furnishings y los gastos corporativos.
bebe stores는 bebe 및 Brookstone 브랜드 합작 투자에 대한 지분 매각을 4억 6624만 달러에 현금으로 발표했습니다. 회사는 각각 50%와 28.5%의 지분을 보유하고 있었습니다. 매각 이후, bebe는 모든 미지급 부채를 청산하고 주당 2.00달러의 특별 현금 배당금을 선언했습니다. 이 배당금은 2024년 11월 22일에 지급되며, 2024년 11월 11일 기준 주주에게 지급됩니다. 배당금 지급 후, 회사는 60개 이상의 Buddy's Home Furnishings 프랜차이즈 매장 운영과 기업 비용을 지원하기 위해 약 850만 달러의 현금 자 reserves를 유지할 것입니다.
bebe stores a annoncé la vente de ses intérêts d'adhésion dans les joint ventures des marques bebe et Brookstone pour 46,624 millions de dollars en espèces. L'entreprise détenait respectivement 50 % et 28,5 % de participation. Suite à la vente, bebe a réglé toutes ses dettes en cours et a déclaré un dividende exceptionnel en espèces de 2,00 dollars par action, payable le 22 novembre 2024, aux actionnaires inscrits au 11 novembre 2024. Après le paiement du dividende, l'entreprise maintiendra environ 8,5 millions de dollars en réserves de liquidités pour soutenir les opérations de ses plus de 60 magasins franchisés Buddy's Home Furnishings et les frais d'exploitation.
bebe stores hat den Verkauf seiner Beteiligungen an den Joint Ventures der Marken bebe und Brookstone für 46,624 Millionen Dollar in bar angekündigt. Das Unternehmen hielt jeweils 50% und 28,5% der Anteile. Nach dem Verkauf hat bebe alle ausstehenden Schulden beglichen und eine sonstige Bardividende von 2,00 Dollar pro Aktie erklärt, die am 22. November 2024 an die zum 11. November 2024 registrierten Aktionäre ausgezahlt wird. Nach der Dividendenauszahlung wird das Unternehmen etwa 8,5 Millionen Dollar in Barreserven halten, um den Betrieb seiner über 60 Buddy's Home Furnishings Franchise-Stores und die Betriebskosten zu unterstützen.
- Received $46.624 million in cash from sale of joint venture interests
- Cleared all outstanding debt
- Declared special dividend of $2.00 per share
- Maintains $8.5 million cash reserve for operations
- Divestment of valuable brand joint ventures reduces future revenue streams
- Significant reduction in business portfolio diversity
About bebe stores, inc.
The Company owns and operates, through its subsidiary, a fleet of approximately 60+ rent-to-own Buddy’s Home Furnishings franchise stores located in the
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bebe stores, inc.
Gary Bosch
EVP, General Counsel & Secretary
Investor-relations@bebe.untd.com
(415) 251-3355
Source: bebe stores, inc.
FAQ
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