At these levels, I'd like to see another $30 million stock buyback. Last time the stock dipped below $6, Bebe bought back $30 million of stock at prices well below $6. It is time to start spending a small part of that $180+ million of cash held on the balance sheet.
I wouldn't object to selling the company. The question is price. I doubt Manny would sell right now even if he wanted to given the low stock price. I also think he has a strong emotional attachment to the company. He still controls about 55% of the stock so nothing will happen. I've often thought about the possibility of Manny taking the company private along with a private equity buyer to get it outside the public eye. Maybe this is just wishful thinking on my part. Bebe just announced it started the process to look for a new CEO to run the company and intends to fill this position by year end.