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Bebe slides to loss
Brisbane, Calif. -- Bebe Stores Inc. reported a loss for its fourth quarter amid weaker sales and markdowns.
The apparel chain posted a loss of $20.8 million for the three-month period ended July 6, compared with net income of $3 million in the fourth quarter last year.
Bebe's total revenue edged down to $119.2 million, from $131.5 million. -
Investor ups stake in Penney to become second largest investor
New York -- Hedge fund manager Richard Perry has upped his already substantial share in J.C. Penney Co. Perry’s Perry Capitol LLC now ranks as Penney's second-largest investor after George Soros.
It was disclosed on Friday that Perry bought an additional three million shares of Penney in a secondary offering for $12.90 a share, and that it now owns 8.62% of the company, up from its previous 7.3% stake.