SPLITS FROM TWO: Bebe Stores Inc. and Delta Apparel Inc. each announced stock splits Thursday. Bebe’s board approved a three-for-two split, whereby each share of common stock will be converted into 1.5 shares at the close of business May 23. New shares will be issued June 3, and after the split, Bebe will have 90.7 million shares outstanding. The company said it will increase its authorized number of shares of common stock to 135 million from 90 million at the time of the split. Shares of Bebe closed at $32.65, down 2.5 percent Thursday on the Nasdaq. Meanwhile, Delta Apparel’s board approved a two-for-one stock split, which will increase its outstanding shares to 8.4 million from 4.2 million. The split will take place on May 18 with new shares being issued on May 31. Authorized shares of the company’s common stock will increase to 15 million from 7.5 million. Shares of Delta Apparel ended at $30.45 Thursday, up 0.1 percent, in New York Stock Exchange trading.
EMPORIO’S SOUTHERN EXPOSURE: Emporio Armani opened its first Florida boutique Wednesday. Located in the Bal Harbour Shops in Bal Harbour, the store is about 2,500 square feet on one floor. Giorgio Armani designed the store in collaboration with New York-based architectural firm Janson Goldstein LLP, following the image of newly opened stores in Houston, Cannes and Forte dei Marmi, Italy. The floors and walls are made of beige tatami material that adds light and contrast to the chocolate brown wenge wood panels and displays. A large wall projection of the spring-summer Emporio Armani collections dominates the entrance. The boutique carries women’s and men’s wear, including underwear, eveningwear, sportswear, the A/J Armani Jeans collection, eyewear, watches, jewelry, footwear, accessories and gift items. Currently there are 133 Emporio Armani shops worldwide.
This story first appeared in the April 29, 2005 issue of WWD. Subscribe Today.