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    In this article BBBYFollow your favorite stocksCREATE FREE ACCOUNTA customer carries a Buy Buy Baby shopping bag in New York, US, on Thursday, Aug. 25, 2022.Gabby Jones | Bloomberg | Getty ImagesBuybuy Baby has been a rare bright spot for struggling Bed Bath & Beyond. On Thursday, however, the baby gear chain reported a steep quarterly sales drop — raising eyebrows and prompting concerns that it may also be losing customers. Buybuy Baby's comparable sales declined by a high-teens percentage compared with a year ago in the three-month period ended Aug. 27. At Bed Bath & Beyond's namesake stores and website, comparable sales dropped by 28% year over year. Retail sales got a lift last year from government stimulus, including from child tax credits. Interim CEO Sue Gove said Thursday that Buybuy Baby faced tough comparisons in the quarter because of that, but has maintained market share in the category. Buybuy Baby has been one of its parent company's strongest businesses and most valuable assets. As Bed Bath & Beyond namesake stores have shuttered, the company has opened more BuyBuy...
    Bed Bath & Beyond has announced the locations of 56 of the 150 stores it’s planning to close by the end of the year. Two of them are in the Bay Area. The downsizing is part of the retailer’s last-ditch effort to stabilize as it struggles in financial turmoil. Along with closing stores, the company said in August it will lay off about 20% of its corporate employees. It also secured a crucial $500 million in new financing as the holiday shopping season approaches. “All currently planned store closings have been announced, and we will continue to review our portfolio where it makes sense to profitably support our customers and business,” the company said in a statement last week. The two Bay Area stores to close are in Larkspur (Larkspur Landing) and San Leandro (Bayfair Center). The exact closing date was not announced. Six other California stores will close, in Redding, Marina, Palmdale, Burbank, Lakewood and Santee. The previous round of 37 closures, in January and February of this year, saw the end of the stores in Campbell and...
    In this article BBBYFollow your favorite stocksCREATE FREE ACCOUNTA person exits a Bed Bath & Beyond store in New York City, June 29, 2022.Andrew Kelly | ReutersBed Bath & Beyond is betting on a drastic change in strategy and well-recognized brands to revive its struggling business.  But the retailer's strained relationships with suppliers of products such as air fryers and stand-mixers – some of which were missing from shelves two holiday seasons ago – could leave stores without hot items once again. Out-of-stock products could cripple Bed Bath's already-declining sales and push the company toward bankruptcy.related investing newsWe see two reasons for Nvidia's dramatic price hikes on its newly unveiled graphics cards Zev Fima20 hours agoRetailers have a serious inventory problem. Here are the stocks most at risk, according to UBSSarah Min21 hours agoBed Bath is fighting to win back customers as it contends with a leadership shakeup, a mountain of debt and the aftermath of a meme-stock frenzy fueled by activist investor Ryan Cohen. On top of that, tensions with merchandise suppliers grew as the company's problems worsened,...
    BED, Bath and Beyond has announced a major update that will drastically change how thousands of people across the US shop. The company revealed it's in the process of shutting down 150 stores after reporting 25 percent losses during its most recent quarter. 2The store closures come at a time when the company is switching strategies to strengthen sales and financialsCredit: Getty 2Bed, Bath, and Beyond is shutting down 150 storesCredit: Getty To start, Bed, Bath, and Beyond will close 56 stores, across 22 states, with the goal of saving approximately $250million. "All currently planned store closings have been announced, and we will continue to review our portfolio where it makes sense to profitably support our customers and business," the company said in a recent statement, according to CNN Business. Last month, the retailer said in a press release that the move will impact "lower-producing" stores and 20 percent of staff members across corporate and its supply chain. The closures come at a time when the company is switching strategies to strengthen sales and financials. Read More on Shopping NewsSHOPPING UPGRADE Walmart announces...
    New York (CNN Business)Bed Bath & Beyond revealed the locations of more than 50 of the 150 stores it's planning to close, ranging from Arizona to Washington state. Bed Bath & Beyonds chaotic 90s beauty isnt for the internet ageThe downsize is part of the struggling retailer's last-ditch effort to stabilize as it struggles in financial turmoil. Along with shuttering stores, the company said in August it will lay off about 20% of its corporate employees and cut some of its in-house home goods stores. It also secured a crucial $500 million in new financing as the holiday shopping season approaches. It's a fraught time for the home-goods chain. Earlier this month, Gustavo Arnal, the retailer's chief financial officer, jumped to his death from a New York City high rise. Arnal was named as a defendant in a class action lawsuit accusing him, Ryan Cohen and other large shareholders of engaging in a "pump and dump" scheme to artificially inflate the price of the company's stock. Bed Bath & Beyond said in August that sales at stores open for at...
    By Eliza Ronalds-Hannon and Jeannette Neumann – Bloomberg Bed Bath & Beyond Inc. is starting to close down and liquidate 56 stores as part of a wide-ranging turnaround plan, which the troubled retailer is betting will rekindle some of its lost appeal with US shoppers. The closings, many of which are happening in the upper Midwest, New York and New Jersey where its locations are more densely packed, are the first round of what will ultimately total about 150 stores. Along with job cuts for 20% of its workforce, the changes are aimed at slashing costs at a business that has burned through cash and lost customers as it turned away from national brands. To stay afloat, it has paired the cuts with a new $500 million line of credit secured late last month that it plans to use in part to get back on good terms with suppliers. Adding to the uncertainty surrounding the company’s future, Chief Financial Officer Gustavo Arnal died by suicide days after the company had laid out its turnaround plan to investors. Store Closings The...
    Three New Jersey Bed Bath & Beyond stores will shutter by the end of the year, the company announced this week. The company announced earlier this year it planned on closing 150 stores, and on Thursday, Sept. 15, released a list of 56 that will close by the end of 2022. Those stores are: Flanders, 30 International Dr. Manalapan, 13 Route 9 S. Paramus, 34 E Ridgewood Ave. Bed Bath & Beyond has 28 stores in New Jersey, and headquarters in Union. The company did not give exact closing dates.
    One Pennsylvania Bed Bath & Beyond store will shutter by the end of the year, the company announced this week. The company said earlier this year it planned on closing 150 stores, and on Thursday, Sept. 15, released a list of 56 that will close by the end of 2022. The Pennsylvania store closing is in Wynnewood, located at 70 E. Wynnewood Blvd. Pennsylvania has 23 Bed Bath & Beyond stores. The CEO of the home good retailer leapt to his death early this month from a New York City building. Shares in Bed Bath & Beyond dropped sharply in August, after the company announced a restructuring plan that it said would result in the closure of "150 lower-producing stores."
    AFTER reporting 25% losses last quarter, Bed Bath & Beyond announced it's in the process of closing 150 stores. The company will start by closing 56 in hopes to save about $250million. 1Bed Bath & Beyond is set to close 150 stores altogetherCredit: AP Last month, the retailer said in a press release that the move will impact "lower-producing" stores and 20% of staff members across corporate and its supply chain. The closures come at a time when the company is switching strategies to strengthen sales and financials. Before the closures, Bed Bath & Beyond had 955 stores, including 769 Bed Bath & Beyond stores, 135 buybuy Baby stores, and 51 stores under the names Harmon, Harmon Face Values or Face Values. The Sun previously reported that as of February, it had roughly 32,000 employees. Read More on Bed Bath & BeyondTAKING STOCK I'm a 20-year-old student & my Bed Bath & Beyond side hustle made me $110MTAKE NOTE I'm an ex Bed, Bath & Beyond worker - little-known coupon fact can save you cash The struggling retailer also said it...
    Bed Bath & Beyond has announced dozens of the roughly 150 stores it plans to close. The struggling home goods retailer released its plans last month to close the "lower producing" locations, representing about 20% of its namesake stores. The closures are part of a broader plan to try to stabilize the company's finances and turn around its declining sales. In late August, Bed Bath secured more than $500 million in new financing, including a loan, ahead of the key holiday season. Its workforce is getting smaller too, as it cut its corporate and supply chain staff by about 20%. Bed Bath & Beyond posted a list of 56 namesake locations it will close. They are scattered across the U.S., from California and Nevada to Ohio and Florida. The retailer operates other chains, too. It had 135 Buybuy Baby stores and 51 locations under the Harmon, Harmon Face Values or Face Values banners, as of the end of the fiscal first quarter. It is adding to its baby goods banner, however. It opened five BuyBuy Baby stores in that three-month...
    Executives at Bed Bath & Beyond say they reported concerns their chief financial officer, Gustavo Arnal, was feeling 'stressed' with the current financial crisis and his own share dealings coming under scrutiny. Arnal killed himself after jumping from his Manhattan skyscraper apartment late last week.  Board member Sue Gove, who began acting as interim chief executive officer in June, believed Arnal to be overwhelmed but feared replacing the CFO while the company was in the middle of raising money.  Similarly, a former CEO of Avon Products, Jan Zijderveld, who dined with Arnal and his wife in July, said it was clear the 52-year-old was under pressure and said as much to him.  Arnal served as the chief financial officer at Bed Bath & Beyond, which had been struggling due to the economic downturn but other execs at the company believed him 'overwhelmed' Board member Sue Gove, who began acting as interim chief executive officer in June, believed Arnal to be overwhelmed but feared replacing the CFO while the company was in the middle of raising money 'I could see the stress on him.He's...
    A Bed Bath & Beyond executive leapt 18 stories to his death from New York City's "Jenga" tower Friday, Sept. 2, multiple reports say. Gustavo Arnal, 52, was the executive vice president and chief financial officer at the Union, NJ-based company. Calls reporting a jumper came around 12:30 p.m. from the 60-story building's location in lower Manhattan's Tribeca neighborhood at 56 Leonard Street near Church Street, according to the Daily Mail. Messages left with Bed Bath & Bed and Arnal’s family on Saturday, Sept. 3 were not immediately returned, the New York Post said. Shares in Bed Bath & Beyond dropped sharply last week after the company announced a restructuring plan that it said would result in the closure of "150 lower-producing stores." Bed Bath & Beyond now has about 900 stores, including those scheduled to be closed. Arnal joined Bed Bath & Beyond as CFO in May 2020, moving from  CNBC has beauty conglomerate Avon, where he was the company's head of finance. 
    A Bed Bath & Beyond executive leapt 18 stories to his death from New York City's "Jenga" tower Friday, Sept. 2, multiple reports say. Gustavo Arnal, 52, was the executive vice president and chief financial officer at the Union, NJ-based company. Calls reporting a jumper came around 12:30 p.m. from the 60-story building's location in lower Manhattan's Tribeca neighborhood at 56 Leonard Street near Church Street, according to the Daily Mail. Messages left with Bed Bath & Bed and Arnal’s family on Saturday, Sept. 3 were not immediately returned, the New York Post said. Shares in Bed Bath & Beyond dropped sharply last week after the company announced a restructuring plan that it said would result in the closure of "150 lower-producing stores." Bed Bath & Beyond now has about 900 stores, including those scheduled to be closed. Arnal joined Bed Bath & Beyond as CFO in May 2020, moving from  CNBC has beauty conglomerate Avon, where he was the company's head of finance. 
    An executive at Bed Bath & Beyond has been identified as the man who jumped 18 stories to his death at the so-called "Jenga" tower in New York City on Friday, Sept. 2, according to multiple reports. Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer. Calls reporting a jumper came around 12:30 p.m. from the 60-story building's location in lower Manhattan's Tribeca neighborhood at 56 Leonard Street near Church Street, according to the Daily Mail. Messages left with Bed Bath & Bed and Arnal’s family on Saturday, Sept. 3 were not immediately returned, the New York Post said. Shares in Bed Bath & Beyond dropped sharply last week after the company announced a restructuring plan that it said would result in the closure of "150 lower-producing stores." Bed Bath & Beyond now has about 900 stores, including those scheduled to be closed. Arnal joined Bed Bath & Beyond as CFO in May 2020, moving from  CNBC has beauty conglomerate Avon, where he was the company's head of finance. 
    A TOP executive at Bath & Beyond has died after plunging to his death from an iconic New York City skyscraper. Gustavo Anral, 52, jumped from the 18th floor of the 'Jenga Building' at 56 Leonard Street on Friday, police sources say. 1Gustavo Arnal, the CFO of Bed, Bath & Beyond, died after jumping from the 'Jenga Building'Credit: Linkedin Anral joined the troubled home goods retailer in 2020, working as chief financial officer and was also an executive vice president. He'd previously worked as chief financial officer for cosmetics giant Avon from London. The executive also had a 20-year career abroad as the head of Procter & Gamble, the New York Post reports. Last month, Arnal sold 42,513 shares in Bed, Bath & Beyond stock for more than a $1 million, according to MarketBeat.com. READ MORE U.S NEWSWHERE IS SHE? 'Vehicle found & man detained' in case of heiress KIDNAPPED on morning runWHAT DOC? 'Broke' Armie Hammer celebrated birthday with close friends amid bombshell doc Last year, he made more than $2.9 million via Bed Bath...
    The man who jumped to his death from the 18th floor of a ritzy 57-story building in Manhattan's Tribeca neighborhood Friday has been identified as a Bed Bath & Beyond executive. Gustavo Arnal, 52, was identified as the jumper at the 56 Leonard Street building - where apartments go for up to $50million - on Friday afternoon, according to the New York Post.  Arnal was the Chief Financial Officer of Bed Bath & Beyond, a company that has been going through struggles of late, forcing the company to announce plans to close 150 stores of its roughly 900 and lay off 20 percent of corporate and supply chain staff.  Calls regarding the jump at 56 Leonard Street near Church Street came in at around 12:30pm, according to a spokeswoman for the NYPD.  The building, located at 56 Leonard Street in the fashionable Tribeca district, is topped with an impossible-looking jumble of misaligned floors that make it look like a teetering Jenga tower.  The penthouse apartment in the building went for $50million.  The city's EMS officials responded to the incident and were...
    A MAINSTAY in the home shopping sector is shutting doors and laying off workers. Bed Bath & Beyond is set to close 150 "lower-producing" stores. 1Bed Bath & Beyond will be closing under-performing stores nationwideCredit: Reuters The stores closures come with a reduction in staff, including about 20% across corporate and supply chain. The stores said in its recent investor call they hope this move will drive a savings of about $250million for their fiscal year. It comes on the heels as sales fell about 25% last quarter. The layoffs and closures will affect some its flagship stores throughout the US which have been underperforming. Read more shopping storiesRETAIL SECRETS I worked at Bed Bath & Beyond, customers would get upset at the towel secretBEAUTY BARGAINS Four money-saving tricks for Ulta shoppers - including timing your points Sue Gove, Director & Interim Chief Executive Officer said: "We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns. A store closings list has not been shared. The Sun reached out to Bed...
    Retail chain Bed Bath & Beyond and social media firm Snap both announced major layoffs on Wednesday, as high inflation and a sagging economy hammer large US companies.  Bed Bath & Beyond, which has become the latest meme-stock darling for small traders on Reddit,  announced plans to close 150 stores of its roughly 900 and lay off 20 percent of corporate and supply chain staff. The big-box chain - once considered a so-called 'category killer' in home and bath goods - has seen its fortunes falter, with CEO Mark Tritton fired in June after sales plunged 25 percent in the first quarter.  The company hired Sue Gove, an independent board director, to replace him on an interim basis. On Wednesday, Gove said the retailer was 'continuing to see significant positive momentum' and intended to build its 'deep heritage as a retailer.'  'While there is much work ahead, our road map is clear and we're confident that the significant changes we've announced today will have a positive impact on our performance' she said on a conference call.  Bed Bath & Beyond...
    Struggling retailer Bed Bath & Beyond is closing stores and laying off staff in order to restructure its business and keep it above water. The company announced that it is cutting 20% of corporate and supply chain staff and shuttering 150 of the retailer's worst-performing stores. Bed Bath & Beyond also announced that it had secured more than $500 million in new financing after talks with JPMorgan Chase and Sixth Street Partners. Its stock cratered at open on Wednesday, tumbling more than 23% to $9.25 per share. The drop follows a recent surge powered by meme stock traders that had the price go as high as $23 per share. That rally has since evaporated. CONSUMER CONFIDENCE RISES FOR FIRST TIME IN FOUR MONTHS The rally began when it was revealed that activist investor Ryan Cohen, the founder of pet supply retailer Chewy, had taken an 11.8% stake in Bed Bath & Beyond, which had been struggling at its locations across the country in recent years. Cohen had bought call options that would expire in January 2023...
    New York (CNN Business)Bed Bath & Beyond's stock tumbled in early trading after it announced layoffs, store closures and fresh financing plans as it tries to reverse its business' decline. The company said it is laying off approximately 20% of employees from its corporate ranks and supply chain, including eliminating its chief operating officer and chief stores officer roles. Its retail footprint is also being reduced, with around 150 Bed Bath & Beyond stores set to close. A list of closures wasn't revealed. Bed Bath & Beyond (BBBY)shares fell 25% in premarket trading."We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns," said interim CEO Sue Gove. "In a short period of time, we have made significant changes and instituted enablers across our entire enterprise to regain our dominance as a preferred shopping destination for our customers' favorite brands and exciting products."New funding of $500 million has also been secured, that will help "strengthen our liquidity and secure our path for the future," Gove said.Read MoreIts sprawling line of in-house...
    Bed Bath & Beyond is being accused of cutting air conditioning in its stores in an attempt to lower company expenses, according to a new report from CNN. The news outlet said in a report on Tuesday, June 28, that Bank of America conducted store visits and found that the stores are cutting the AC to try to recover for lower sales. Representatives for Bed Bath & Beyond told CNN that "... no Bed Bath & Beyond stores were directed to adjust their air conditioning and there have been no corporate policy changes in regard to utilities usage." CNN reported that the analysts from Bank of America also found that labor hours had been cut and store operating hours have been reduced at some locations. Read the full report from CNN here.
    New York (CNN Business)Bed Bath and Beyond CEO Mark Tritton is out after only three years at the helm of the rapidly sinking retailer.The beleaguered company announced multiple changes to its leadership Wednesday, including replacing Tritton. In the interim, Bed Bath and Beyond has tapped Sue Grove, an independent director on the company's board, as its CEO until it fines someone permanent for the position."We must deliver improved results," Grove said in a statement. "Top-tier execution, careful management of costs, greater supply chain reliability, prudent capital spending, a stronger balance sheet, and robust digital capabilities will all be important to our success."Bed Bath and Beyond (BBBY) poached Tritton from Target (TGT) in 2019. He was previously in charge of expanding Target's private label brands, which he tried to replicate at Bed Bath and Beyond. But those items haven't caught on with customers the same way they did at competitors -- nor did the company's redesigned stores.Tritton's efforts did little to mask the company's deep-seated problems. On Wednesday, the chain reported significantly lower-than-expected earnings for the past quarter, and the brand's...
    New York (CNN Business)Editor's Note: This story is part of CNN Business' Nightcap newsletter. To get it in your inbox, sign up for free, here.HOT MESSBed Bath and Beyond has always been a bit of a mess, and that was the point. You walked in for new set of sheets and walked out with a closet organizer, an As Seen On TV abdominal roller and a 12-pack of clear glass food storage containers that were going to FINALLY level up your fridge game. And later, as you sipped a homemade cappuccino from your comically oversized porcelain mug — all courtesy of the BBBY — you'd remember you never actually got those sheets.But these days, the store is something of a hot mess, literally, and that's got analysts and investors nervous ahead of BBBY's earnings report tomorrow. Read MoreHere's the thing: A new report from Bank of America says some stores have cut their air conditioning and other utilities to quickly lower expenses and make up for a slump in sales — an accusation BBBY HQ denied. (A rep told my...
    New York (CNN Business)Retailers typically want their sales numbers to be red hot, not their customers. But Bed Bath & Beyond (BBBY) is reportedly dealing with cooled momentum and heated customers at its stores.A new report from Bank of America claims that the company has cut air conditioning in an effort to quickly lower expenses to make up for a slump in sales. Bed Bath & Beyond told CNN that any changes in store temperature guidelines did not come from corporate. "We've been contacted about this report, and to be clear, no Bed Bath & Beyond stores were directed to adjust their air conditioning and there have been no corporate policy changes in regard to utilities usage," said a representative. Still, analysts at Bank of America who have conducted store visits report mounting concerns, including labor hours that have been meaningfully cut, scaled back utilities, reduced store operating hours and canceled remodeling projects. Rewards programs have also been scaled back and replaced. The analysts expect Bed Bath & Beyond's management will soon announce more store closures and halt openings of...
    RETAIL stores have particular processes that the public is not always aware of. And for Bed Bath & Beyond, this extends to their towel display. 2A previous Bed Bath & Beyond employee shared a secret about the stores towel displayCredit: TikTok 2All display towels were placed high up, preventing people from reaching themCredit: TikTok In a social media video, a previous Bed Bath & Beyond employee claimed that people always got upset when they were told that the chain's display towels were not real towels. These display towels were simply small versions of the real towels that had been placed on foam for viewing purposes only. Apparently, all the display towels were placed high up, preventing people from reaching them. "Now they have banners that are up so I don't know how many stores have the towel foams anymore," the ex employee explained. Read more on retailBARGAIN KING I'm a Burger King worker - the best way to save cash is hidden on your receiptEYE SPY I’m a former Walmart worker - the store has a genius way to stop...
    In this article BBBYShoppers exit a Bed Bath & Beyond store in New York.Michael Nagle | Bloomberg | Getty ImagesCompany: Bed Bath & Beyond (BBBY)Business: Bed Bath & Beyond runs a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. The company sells a range of domestic merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products. As of Feb. 27, 2021, the company had 1,020 stores, including 834 Bed Bath & Beyond stores in 50 states, the District of Columbia, Puerto Rico, and Canada; 132 buybuy Baby stores; and 54 stores under the names Harmon, Harmon Face Values or Face Values. It also offers products through various websites and applications, such as bedbathandbeyond.com, bedbathandbeyond.ca, harmondiscount.com, facevalues.com, buybuybaby.com, buybuybaby.ca and decorist.com. In addition, it operates Decorist, an online interior design platform that provides personalized home-design services. Stock Market Value: $2.1B ($22.07 per share)Activist: RC VenturesPercentage Ownership: 9.81% Average Cost: $15.34 Activist...
    Nearly 40 more Bed Bath & Beyond stores will be closing in February, according to a new report from USA Today. Among them, one in New Jersey. Liquidation sales are underway at the 37 stores, including the one on River Road in Edgewater, the outlet says. Last June, the company announced it would be closing 200 stores over the next two years. Locations in Jersey City, Howell, and Rockaway were some of the first to go. Click here for more from USA Today.
    PLAINVIEW, N.Y. (CBSNewYork) — Bed Bath & Beyond has revealed the locations of some of the stores it plans to close in the coming weeks. One store will close in Edgewater, New Jersey. New York is losing seven stores at the following locations: Auburn Canandaigua Glenmont Niagara Falls Plainview Port Chester Spring Valley All affected stores will be closed by the end of February.
    BED Bath & Beyond is closing 37 stores over the next month - and they're located across 19 states. The closures are said to be part of previously announced plans to shut around 200 stores. 1The affected stores are located in 19 states across the US The 37 shops will be closed by the end of February, but the retailer is yet to confirm how it affects workers - and whether there'll be job losses. For shoppers who want to snap up bargains, the stores are currently having closing down sales with discounts on every single product. You'll have to be quick though as items are likely only available as long as stocks last, but don't forget to shop around as there may be cheaper deals elsewhere. The closures come as Bed Bath & Beyond yesterday reported widening losses as supply chain issues continued to squeeze sales. It said it has struggled to get products on shelves in recent months due to ongoing issues tied to backups in the supply chain. Those problems resulted in an estimated $100million impact...
    (CNN) — Bed Bath & Beyond revealed the locations of 37 of the approximately 200 stores it plans to close in the coming weeks. The closure includes a store in Jackson. READ MORE: Ethan Crumbley Waives Key Court Hearing In Oxford School Shooting CaseThe plans, which were announced two years ago, are part of Bed Bath & Beyond’s multi-year transformation that includes creating new, private labels, remodeling stores and focusing on e-commerce under CEO Mark Tritton. Affected locations will be closed by the end of February and are currently having liquidation sales. Bed Bath & Beyond is in the midst of remodeling 450 stores, representing about half of its locations, at a cost of $250 million. The company has been hit with falling sales and declining foot traffic in recent years as shoppers defect to competitors, such as Target and Amazon, which carry much of the same household basics that Bed Bath & Beyond sells. Tritton joined Bed Bath & Beyond from Target three years ago and has led the company through a turnaround over the past few years as...
    Two additional Bed Bath & Beyond stores in the Lower Hudson Valley are set to close. Company officials announced the Bed Bath & Beyond store in Spring Valley Marketplace as well as in Port Chester will close in the next couple of months. "After careful consideration, Bed Bath & Beyond has decided to close the Spring Valley location and Port Chester in the coming months, as part of our previously announced store closure plans," a spokesperson for the store said. The spokesperson said employees have been notified, and the decision to close the stores was a "difficult one." The official did not provide an exact date for closure. The company announced in 2020 it would close 21 percent of its stores as a cost-saving measure. Previously, the Palisades Center store was closed in July 2020 and the Mohegan Lake store closed in April 2021. No additional stores are slated to date in the area, company officials added that only the stores listed on the Bed Bath & Beyond closure webpage, bedbathandbeyond.com/store/static/closingstores, will close, "most by the end of February." ...
    In this article BBBYA shopper walks past a Bed Bath & Beyond Inc. storeAndrew Harrer | Bloomberg | Getty ImagesBed Bath & Beyond continues to shut underperforming locations, with dozens of closures planned for early this year. The company released a list of 37 locations spread across 19 states where liquidation sales have already kicked off and the shops are expected to close by the end of February. It includes five Bed Bath shops in California, seven in New York and one in New Jersey. In 2020, Bed Bath announced it planned to close about 200 of its core banner stores over two years, as part of its broader turnaround efforts. It's also in the midst of remodeling locations to reduce clutter and add brighter signage and new brands. When Bed Bath reported its fiscal third-quarter results on Wednesday, the home goods retailer said it has closed roughly 170 locations thus far and is still on track to hit 200 by year-end. Chief Executive Officer Mark Tritton told analysts that the company will explore additional closures in the future. It...
    By: KDKA-TV News Staff ROSS TOWNSHIP (KDKA) — Bed Bath and Beyond, a chain known for selling household items and furniture, will be closing several stores all across the nation. READ MORE: Pittsburgh Weather: Ridges Expected To Get Hit Hardest With 5-7 Inches Of Snow TonightOne of the locations impacted is in the Pittsburgh area. The Bed Bath and Beyond on McKnight Road will be closing. READ MORE: Kidsburgh: Family-Friendly Winter ActivitiesThere is another location in York, Pennsylvania that is also shutting down. The stores are offering a clearance sale, with all items discounted. CNN reports that these closures were planned as far back as two years ago, in an effort to capitalize more on online sales and rennovating profitable store fronts. MORE NEWS: Pa. Lottery: Winning Powerball Ticket Worth $100,000 Sold In Somerset CountyThe all affected stores will be closed permanently by the end of the next month.
    Bed Bath & Beyond revealed the locations of 37 of the approximately 200 stores it plans close by the end of this year. The plans, which were announced two years ago, are part of Bed Bath & Beyond’s multi-year transformation that includes creating new, private labels, remodeling stores and focusing on e-commerce under CEO Mark Tritton. Affected locations will be closed by the end of February and are currently having liquidation sales. Bed Bath & Beyond is in the midst of remodeling 450 stores, representing about half of its locations, at a cost of $250 million. The company has been hit with falling sales and declining foot traffic in recent years as shoppers defect to competitors, such as Target and Amazon, which carry much of the same household basics that Bed Bath & Beyond sells. Tritton joined Bed Bath & Beyond from Target three years ago and has led the company through a turnaround over the past few years as housebound shoppers increased their spending on kitchen and home essentials. The retailer released earnings Thursday and missed analysts’ expectations....
    New York (CNN Business)Shares of Bed Bath & Beyond plunged nearly 30% in early trading Thursday after the retailer revealed that foot traffic "slowed significantly" in August, pummeling its second-quarter earnings. CEO Mark Tritton said in a release that the chain's sales were solid in June, but then nosedived in the following two months because of "unexpected, external disruptive forces," namely, the growing spread of Covid-19 and ongoing supply chain challenges.Tritton said that the Delta variant hurt sales in several large states, including Texas, Florida and California -- virus hotspots that account for a "substantial portion" of the company's total revenue. On top of that, the supply chain problems that have ravaged multiple industries over the past year and a half intensified in August. Tritton described the disruption as "unprecedented" and said that increasing inflation "impacted sales and gross margin." That led to much higher supply prices than Bed Bath & Beyond (BBBY) had anticipated, swinging the company to a $73 million loss across all its brands. Sales at the flagship stores fell 4%. However, Tritton remains "confident" in the...
    Another Bed Bath & Beyond store is expected to close permanently this fall, part of a nationwide closure plan affecting about 200 locations. The major retailer’s store at 400 Marin Blvd. in Jersey City is set to close in November, a store employee told NJ Advance Media. In July 2020, Bed Bath & Beyond officials announced that 200 of its namesake stores would be shut down over a two-year period -- accounting for about one-fifth of all its BB & B stores nationwide. The big-box chain cited a steep drop in sales due to the coronavirus pandemic at the time.  Two other Bed Bath & Beyond stores in New Jersey were closed permanently last fall -- in Rockaway and Howell. 
    New York (CNN Business)For years, shopping at Bed Bath & Beyond has meant dealing with chaos. You could lose hours sifting through a hodgepodge of items on cluttered shelves and walk out with nothing. Now, the chain is making an effort to get organized, Marie Kondo-style.At its flagship location in New York City, the chain has eliminated 44% of products and arranged what remains by category, price and brand, as opposed to its previous strategy of carrying dozens of different bath mats and can openers. The chain also lowered shelves, widened aisles and reduced the space on the sales floor by around 15% to make it simpler for customers to find products they are hunting for.It's all part of Bed Bath & Beyond's plan to "modernize" its stores. The chain is making a $250 million investment to declutter and renovate 450 locations — more than half its total — over the next three years. Bed Bath & Beyond has faced falling sales and declining foot traffic in recent years as shoppers defect to stores like Target and shop on Amazon,...
    In this article BBBYVIDEO2:5002:50Bed Bath & Beyond CEO: We're in a period of transition with new productsSquawk on the StreetShares of Bed Bath & Beyond surged nearly 50% on Wednesday after the company said it would launch three private label brands this quarter, putting this key element of its turnaround strategy ahead of schedule. With these launches, Bed Bath & Beyond will have introduced six new brands within the past five months — and a month earlier than expected. Notably, the products will be in stores in time for the back-to-school shopping season, which is the second biggest period for consumer spending after the Christmas holidays. The stock is up nearly 118% this year putting its market value at more than $4.2 billion. "What we are seeing is a period of transition where we are exiting older products ... and getting ready to put in those new items," said CEO Mark Tritton, in an interview with CNBC's Courtney Reagan on "Squawk on the Street." He expects the bulk of new products to enter the stores over the next few...
    In this article BBBYSource: Bed Bath & BeyondBed Bath & Beyond on Wednesday reported a double-digit decline in fiscal fourth-quarter sales, as ongoing store closures and divestments that are part of a bigger turnaround plan continue to weigh on results. Its shares were falling around 1% in premarket trading. The big-box retailer reaffirmed a prior sales outlook for the coming fiscal year, noting that positive sales momentum has carried into the current quarter. Many Americans have turned to the company's stores and website during the Covid pandemic to buy cleaning supplies, kitchen appliances, bedding and other items for their homes. Results in its first quarter, however, are going to be messy, Chief Executive Mark Tritton explained in an interview. In the year-ago period, all of Bed Bath & Beyond's stores were shut due to the health crisis, and it was totally reliant on its digital business to fuel sales. That's unlike some retailers, notably Walmart and Target, that have been able to keep their stores open throughout the pandemic. "What you see is some number turbulence," Tritton said. "You're going...
    By ANNE D'INNOCENZIO, AP Retail Writer NEW YORK (AP) — Bed Bath & Beyond will launch a slew of new store brands to lure younger customers in a bid to energize sales the home retail chain. The chain will begin selling eight new store brands this year, six of them in the first half of 2021. The new brands were announced Wednesday by CEO Mark Tritton, who was hired in late 2019 from Target where he did much the same thing as chief merchandising officer. The more than 30 new brands introduced under Tritton were key in Target's revitalization. Bed Bath & Beyond, based in Union, New Jersey, will also begin selling thousands of exclusive products as it seeks a bigger share of the $180 billion home market. Store brands are expected to increase from roughly 10% of the retailer's overall sales to approximately 30% within the first three years. Bed Bath & Beyond recognized that stores had become cluttered and that it had lost customers to Target, Macy’s and Walmart. “We were over-assorted. It was a bit of a...
    NEW YORK (AP) — Bed Bath & Beyond will launch a slew of new store brands to lure younger customers in a bid to energize sales the home retail chain. The chain will begin selling eight new store brands this year, six of them in the first half of 2021. The new brands were announced Wednesday by CEO Mark Tritton, who was hired in late 2019 from Target where he did much the same thing as chief merchandising officer. The more than 30 new brands introduced under Tritton were key in Target’s revitalization. Bed Bath & Beyond, based in Union, New Jersey, will also begin selling thousands of exclusive products as it seeks a bigger share of the $180 billion home market. Store brands are expected to increase from roughly 10% of the retailer’s overall sales to approximately 30% within the first three years. Bed Bath & Beyond recognized that stores had become cluttered and that it had lost customers to Target, Macy’s and Walmart. “We were over-assorted. It was a bit of a jumble,”...
    Amazon employees call for company to cut ties with Parler after deadly U.S. Capitol riot This Alfa Romeo Disco Volante Spyder Is Your Ticket to Coachbuilt Excellence These $19k SUVs Will Make You Trade in Your Car Ad Microsoft This is a slam dunk if you want a one-card wallet in 2021 Ad Microsoft New Policy For Cars Used Less Than 49 Miles/Day Ad Microsoft Full screen 1/21 SLIDES © Provided by Best Life This Beloved Home Goods Chain Is Closing More Than 40 Stores During the pandemic, Americans nested their way through lockdowns, spending their time at home investing in projects. Both Home Depot and Lowe's have seen sales soar with Statista reporting a 79 percent growth in home furnishing retail sales from April to May of 2020, and...
    DELAWARE COUNTY, Pa. (CBS/CNN) – Dozens of Bed Bath and Beyond stores will shut their doors by the end of February, including stores in New Jersey and Pennsylvania. The list of 43 stores expected to close includes the Mercer Mall Bed Bath and Beyond in Lawrenceville, New Jersey and the one on Baltimore Pike in Springfield, Pennsylvania, USA Today reports. The stores closing are in 19 states and Puerto Rico. Back in July, the home goods retailer announced it was planning to close 200 stores over the next two years. Sixty-three of them shut their doors by the end of 2020. A company spokesperson told USA Today that with the additional 43 closings, Bed Bath and Beyond would have completed about 60% of its planned closures by the end of February. (©Copyright 2021 CBS Broadcasting Inc. All Rights Reserved.The-CNN-Wire™ & © 2020 Cable News Network, Inc., a Time Warner Company contributed to this report.) MORE ON CBSPHILLY.COM Pennsylvania Rep. Susan Wild In U.S. Capitol Lockdown: Some Republican Lawmakers ‘Refused To Wear Masks’ Philadelphia Police Beefing Up Patrols Around City In...
    SAUGUS (CBS) — Bed Bath & Beyond is closing dozens of more locations, including two in Massachusetts. The stores in Saugus and Holyoke, along with 41 others across the country will close for good by the end of next month, USA Today reports. Over the summer the company announced plans to close 200 stores over the next two years. Bed Bath & Beyond will still have stores in Auburn, Boston, Braintree, Burlington, Danvers, Dedham, Foxboro, Framingham, Hadley, Hingham, Hudson, Hyannis, Leominster, Milford, North Attleboro, North Dartmouth, Pittsfield, Plymouth, Raynham, Seekonk, Shrewsbury and Somerville. A quarterly report released by the company cited “significant COVID-related headwinds including heavy store traffic declines, major shipping constraints and higher freight costs.” Click here to see the full list as reported by USA Today. The retail industry has been hit hard by the coronavirus pandemic. Earlier this week Macy’s announced it was closing more locations, though no new store closures are planned for Massachusetts.  
    Source: Bed Bath & Beyond Bed Bath & Beyond shares plummeted Thursday, after the retailer reported a quarterly sales decline of 5% from a year ago, which it said was largely due to the sale of non-core assets like Cost Plus World Market and ongoing store closures that are part of its bigger turnaround plans. The stock was down more than 11% in premarket trading. Same-store sales for its entire business, which includes Buy Buy Baby and Harmon Face Values, rose 2%, climbing for the second consecutive quarter. Digital sales soared 77% from a year ago, fueled by online growth of 94% at Bed Bath's namesake banner. Many Americans have been staying at home during the Covid pandemic, prompting them to do more cooking, cleaning, organizing and redecorating. Sales of home organization, kitchen food prep, bedding, bath and indoor decor represented two-thirds of Bed Bath's total sales during the quarter, the company said. Here's how Bed Bath & Beyond did during its third quarter ended Nov. 28, compared with what analysts were expecting, based on Refinitiv data: ...
    Bed Bath & Beyond Inc. and Buy Buy Baby Inc. signage is displayed outside of a store in Los Angeles, California.Patrick T. Fallon | Bloomberg | Getty Images Bed Bath & Beyond is in the process of liquidating dozens of stores, as part of its previously announced plans to close roughly 200 locations by 2022. In July, it laid out a store closure road map, in a bid to trim its sprawling real estate portfolio and focus on remodeling its more profitable shops and investing in digital. At the time, the retailer said these actions were expected to generate annual cost savings of between $250 million and $350 million, excluding related one-time expenses. Bed Bath also said the roughly 200 stores generated about $1 billion in annual net sales in fiscal 2019, and it aimed to move at least 15% to 20% of those dollars online or to other stores.  Zoom In IconArrows pointing outwards As 2021 kicks off, Bed Bath is liquidating 43 stores that are expected to close by the end of February, a company spokesman confirmed to CNBC....
    A NUMBER of US stores are offering discounts this holiday season if you opt to order online and pick up. Not only is buying online and picking up in store, convenient, but it could also leave you with more cash in the bank. 1Some stores allow you to pick up within hours of your orderCredit: Getty Images - Getty With many stores hoping to encourage social distancing with incentives to stay away this winter, there are plenty of bargains to be had. With the cost of the holiday season often adding up to hundreds or even thousands of dollars, it's a simple way to save a little money where you can. That being said, it's always worth shopping around to see you've got the best price for something before you buy, as other options may work out cheaper. From cash rewards to vouchers, gift wrapping and bumper discounts, here's what you can expect. Bed Bath & Beyond Until 13 December, shoppers can snag a 20% discount at Bed Bath & Beyond when they choose to pick...
    OAKLAND (CBS SF) — Retailer Bed Bath & Beyond will pay $1.49 million to settle a lawsuit over allegations the company illegally disposed of hazardous waste at local landfills, authorities announced Wednesday. Alameda County District Attorney Nancy E. O’Malley along with 30 other California district attorneys and the Los Angeles City Attorney announced the settlement against the New Jersey-based retailer, accused of disposing of batteries, electronic devices, ignitable liquids and other flammable, toxic, and corrosive materials at local landfills in violation of environmental laws. The investigation into Bed Bath & Beyond began in Ventura County in December of 2015 after a fire broke out at an Oxnard trash and recycling facility. The fire was attributed to a load of waste from the trash compactor of the Oxnard Bed Bath & Beyond store. Investigators determined the trash contained several electronic items and hazardous waste, including lithium batteries and a can of lighter fluid. In April 2016, another fire broke out in the Oxnard store’s trash compactor, and investigators again discovered regulated waste such as batteries, broken fluorescent bulbs and discarded electronic...
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