The Company and the bebe.com third party service provider have entered into a termination agreement. We anticipate migrating to a company managed platform in the first quarter of fiscal 2013. In addition, as part of the Company’s long-term strategy to manage store distribution as well as direct to consumer fulfillment for both bebe.com and 2bstores.com, the Company has purchased its existing distribution facility in Benicia, California for $18 million. The company believes both of these decisions will support its long-term growth objectives across its multi-channel platform.For the year-to-date period the Company’s capital expenditures were approximately $17.5 million and depreciation expense from continuing operations was approximately $15.1 million. Depreciation for the year will be approximately $21 million. Total capital expenditures for the year, excluding the purchase of the distribution center, are anticipated to be $27 million which will include capital expenditures for new stores, remodels, store expansions, information technology systems and office improvements.
Bebe Stores, Inc. Announces Third Quarter Results
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