Bebe Stores, Inc. (BEBE): Prentice Capital Steaming Over Company’s “Abysmal” Performance

Cusip No. 075571109

1.

Names of Reporting Persons.

I.R.S. Identification
Nos. of above persons (entities only):

Prentice Capital Long/Short Equity Fund,
LP

2.

Check the Appropriate Box if a Member of a Group (See Instructions):

(a) o

(b) x

3.

SEC Use Only

4.

Source of Funds (See Instructions): WC (See Item 3)

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): o

6.

Citizenship or Place of Organization: Delaware

	Number of	7.	Sole Voting Power:	0
	Shares Beneficially	8.	Shared Voting Power:	4,377,081
	Owned by	9.	Sole Dispositive Power:	0
	Each Reporting Person With	10.	Shared Dispositive Power:	4,377,081

11

Aggregate Amount Beneficially Owned by Each Reporting Person: 4,377,081 Shares

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares

(See Instructions): o

13.

Percent of Class Represented by Amount in Row (11): 5.55%*

14.

Type of Reporting Person (See Instructions): PN

*Beneficial
ownership percentage is based upon 78,888,430 shares of common stock, $0.001 par value per share, of the Issuer issued and outstanding
as of February 1, 2016, based on information reported by the Issuer in its Quarterly Report on Form 10-Q for the quarterly period
ended January 2, 2016, filed with the Securities and Exchange Commission on February 16, 2016.