The Canadian department store operator said it was looking at a "major reinvention" of its business operations and gave its strongest signal yet of a possible initial public offering of its real estate assets.
Bebe will reportedly close its brick-and-mortar locations to be an online brand. The women's retailer said in February that it would close 25 stores, the latest U.S. brand to buckle under the shift toward e-commerce.
Starboard Value LP, the activist hedge fund that had pressured Macy's Inc to separate its real estate from its retail business, has sold its stake in the U.S. department store operator, sources said on Wednesday.
Neiman Marcus posted a net loss of $117.1 million in the second quarter and a loss of $140.6 million for first half of its fiscal year. The retailer is reportedly exploring a sale or debt restructuring.