The class action lawsuit listed Arnal as one of the defendants and was brought by a group of shareholders who claimed they lost about $1.2bn. On August 23, the company, Arnal and major shareholder Ryan Cohen were sued over accusations of artificially inflating the firm’s stock price in a “pump and dump” scheme, with the lawsuit alleging Arnal sold off his shares at a higher price after the scheme. The sales amounted to about $1.4m, and Arnal still had nearly 255,400 shares remaining. It forecast a bigger-than-expected 26 percent slump in same-store sales for the second quarter and said it would retain its buybuy Baby business, which it had put up for sale.Īrnal sold 55,013 shares in Bed Bath & Beyond in multiple transactions on August 16-17, Reuters’ calculations showed based on SEC filings. Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business. The big-box chain – once considered a so-called “category killer” in home and bath goods – has seen its fortunes falter after an attempt to sell more of its own brand, or private-label goods. Bed Bath & Beyond confirmed his death in a press statement on Sunday but gave no details. The police statement did not provide further details on the circumstances leading to Arnal’s death and said the New York City Medical Examiner’s Office would determine the cause of death. Police identified the man as Gustavo Arnal. On Friday at 12:30pm ET (16:30 GMT), police responded to a 911 call and found a 52-year-old man dead near the building. He previously worked as CFO for cosmetics brand Avon in London and had a 20-year stint with Procter & Gamble, according to his LinkedIn profile. Gustavo Arnal, 52, joined Bed Bath & Beyond in 2020. Contact her at Please support her work and that of other Coloradoan journalists by purchasing a subscription today.Bed Bath & Beyond Inc’s chief financial officer has fallen to his death from the New York Tribeca skyscraper known as the “Jenga” tower, police said on Sunday, days after the struggling retailer announced it was closing stores and laying off workers. Pat Ferrier is a senior reporter covering business, health care and growth issues in Northern Colorado. Bedbath and beyond contact number california plus#Tritton said the COVID-19 pandemic was "felt across our business during our fiscal first quarter, including loss of sales due to temporary store closures."Īs of May 30, the company had 1,478 stores, including 955 Bed Bath & Beyond stores nationwide and in Canada 262 stores under the names of World Market, Cost Plus World Market or Cost Plus 127 buybuy Baby stores 81 stores under the names "Christmas Tree Shops," "Christmas Tree Shops andThat!" and "andThat!" and 53 stores under the names Harmon, Harmon Face Values or Face Values. In July, the number increased to 200, making up approximately 21% of the company's namesake stores. Bed Bath CEO Mark Tritton said closing 200 locations would save the company between $250 million and $350 million annually after one-time costs. In October, company officials announced plans to close 60 stores across all of its concepts. RETAIL: Some Fort Collins businesses are closing permanently amid COVID-19 pandemic Stores in 29 states are slated to close, with California and New York losing the most stores, at six locations each. "As we rebuild our authority and establish a truly omni-always shopping experience for our customers, we recently announced a store optimization plan that will see us establish the right network of stores to serve our customers," company spokesperson Jessica Joyce said in a statement to USA TODAY. Troutman Parkway. There is a World Market at Front Range Village on Harmony Road. The Fort Collins buybuy Baby store is part of Bed Bath & Beyond at 110 W. Sales tax collections in that category were down 9.3% in August, reflecting July sales.Ĭitywide, sales tax revenue was down 4.6% in August and down 4.2% for the first eight months of the year.īed Bath & Beyond, a New Jersey-based home goods retailer, also operates buybuy Baby, Harmon Face Values and World Market. Sales tax revenue from furniture and home furnishing stores is down 12.5% for the year, due in large part to closures at the early part of the pandemic.
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