If he can get the women's working, he can become a true lifestyle brand. Sean John can become more than just Puff Daddy's company.

Sean John felt he has the heft to go it alone.

Frankly, we believe that this analysis is flawed and somewhat facile. We believe the risks remain acutely material at Bebe and for investors of Bebe.

Everyone wants to capture that full-price selling that you get from gift cards after Christmas. This is a perfect way to do it. Since it's 'found' money, (consumers) will pay full price for something that's kind of cool.

The real question is how the rise in gasoline prices is going to affect the holiday season. I think this will be the toughest test of the consumer in at least four years.

We're all sitting here waiting for this company to produce earnings from the changes Chuck Conaway has initiated. These changes are going to make a substantive difference. The market believes it. We do too. But it won't start being reflected until we see the hard numbers.