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Bebe Stores, Inc. Message Board

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  • retail_stk_investor retail_stk_investor Oct 7, 2012 4:36 PM Flag

    Time for a Stock Buyback?

    Fortunately, Bebe isn't in the same dire financial condition with the heavy debt load that Talbot's had and isn't under the same type of pressure to do so something stupid. Having said that, Bebe has never really regained its footing after the financial crisis. I'm not quite sure why. Despite its poor operating performance, Bebe still has managed to stay cash flow positive for the last few years --- this past year being an exception when it purchased the 240K distribution center (DC) that it partially leased for $18 million in Benecia, California. After purchasing the DC, Bebe still holds $181.4 million of cash ($2.14/share) plus another $60 million (reflects $7.9 million impariment reserve) of auction rate securities ($.71 per share). The ARS are mostly federally insured student loans. Bebe has been slowly liquidating the ARS and so far has settled all at par. They've sold about $17 million of ARS over the past two years. The DC is equal another $.21 per share. The hard assets on their books should act as a floor for the stock, but I said that to myself when the stock was $6 per share, then $5 per share, then....

 
BEBE
6.57-0.18(-2.67%)Apr 16 4:00 PMEDT

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