Bed Bath & Beyond unveiled a turnaround plan that envisions new financing, sweeping store closings and the sale of as many as 12 million shares of stock,...
said in a statement. The company said it plans to use the proceeds from the first-in-last-out facility to help pay down its asset-backed facility.
While comparable sales at the Bed Bath & Beyond brand plunged by 27% in the quarter that ended in May, comparable sales at Buybuy Baby fell by just mid-single digits. Former CEO Mark Tritton boosted the company’s private-label products while trimming its offering of well-known brand names and also cut back on coupons, among other changes. But his attempt at a turnaround was unsuccessful.
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Bed Bath & Beyond closing about 150 stores, laying off 20% of employeesThe company said it was reducing 20% of its workforce and closing about 150 namesake stores, but it will keep its Buy Buy Baby chain.
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Bed Bath & Beyond closing about 150 stores, laying off 20% of employeesThe company said it was reducing 20% of its workforce and closing about 150 namesake stores, but it will keep its Buy Buy Baby chain.
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Bed Bath & Beyond closing about 150 stores, laying off 20% of employeesThe company said it was reducing 20% of its workforce and closing about 150 namesake stores, but it will keep its Buy Buy Baby chain.
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Bed Bath & Beyond Announces Store Closures, Layoffs and New Financing to Fix Struggling BusinessSTORES CLOSING: As part of its turnaround push, Bed Bath & Beyond said it will close about 150 of its 'lower producing' namesake stores and reduce about its workforce by about 20% across its corporate and supply chain staff.
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Bed Bath & Beyond to cut jobs, close underperforming stores as part of turnaround planBed Bath & Beyond will cut about 20% of its workforce and close 150 underperforming stores. Shares fell more than 20% trading after the news was announced.
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Bed Bath & Beyond announces layoffs, store closuresFollowing a decline in sales major retailer Bed Bath & Beyond announced Wednesday that it is laying off employees and closing some stores.
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