By Chelsey Dulaney
Women's apparel retailer Bebe Stores Inc. on Monday appointed
interim chief executive Jim Wiggett to the role on a permanent
basis.
Mr. Wiggett, who had previously served as an adviser to the
struggling retailer for five years, was appointed to the interim
position in June after Chief Executive Steve Birkhold resigned
after a year and a half in the job.
Mr. Wiggett, founder of strategic consulting group Jackson Hole
Group, had previously held executive positions at companies
including Charles Schwab Corp. and Moet Hennessy Louis Vuitton.
The appointment comes as Bebe seeks to turn around its flagging
business. This holiday shopping season is thought to be more
critical than normal for a number of struggling apparel companies.
Deb Stores and Delia's Inc. have already sought bankruptcy
protection, unable to cope with sliding mall traffic and the
increasing move of shoppers online. Wet Seal Inc. has made a
similar warning.
In November, Bebe reported better-than-expected results for its
fiscal first-quarter, with same-store sales growing 0.7%, compared
with a 3% decline a year earlier.
"Jim has made considerable progress in executing our turnaround
strategy, " Chairman Manny Mashouf said in a news release.
Bebe warned earlier this month of a data security attack in
November. The retailer didn't say how many cards had been
affected.
Shares, which were inactive premarket, are down about 50% this
year.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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