why do i have to suffer so much why?’ wrote a user in the forum. “I just wanted to make money without effort. Traders on the WallStreetBets Reddit forum who have been cheering the stock for the past few weeks have reacted with a mixture of stoicism and despair. The retailer also announced a plan to raise money by issuing new shares and said it had secured $500 million in new funding – but investors were bleak about the strategic plan and shares fell by to in morning trading to 25 percent. “While there is still much work to be done, our roadmap is clear and we are confident that the significant changes we announced today will have a positive impact on our performance,” she said on a conference call.īed Bath & Beyond announced plans to close 150 of its roughly 900 stores and lay off 20 percent of the company’s and supply chain employeesīed Bath & Beyond shares fell sharply on Wednesday following the news On Wednesday, Gove said the retailer “continues to see significant positive momentum” and intends to build on its “deep heritage as a retailer”. The company hired Sue Gove, an independent chief executive officer, to temporarily replace him. According to the New York Post, Arnal was identified Friday afternoon as the jumper in the 57-story building where apartments cost up to $50 million.īed Bath & Beyond – once considered a so-called “category killer” in home and bath products – faltered when CEO Mark Tritton was fired in June after first-quarter sales plummeted 25 percent. Friday, calls came in regarding the jump at 56 Leonard Street, near Church Street. calls came in regarding the jump at 56 Leonard Street, near Church StreetĪccording to an NYPD spokeswoman, around 12:30 p.m.
to the building, which was constructed in the late 2010s and has a unique Jenga-style designĪccording to an NYPD spokeswoman, around 12:30 p.m. Gustavo Arnal was Chief Financial Officer of Bed Bath & Beyond, a company that has been struggling latelyĪrnal jumped to his death from the 18th floor of a 57-story building in Manhattan’s Tribeca neighborhood on FridayĬity EMS officials responded around 12:30 p.m. ‘Gustavo is an example of this, and his experience leading business transformations at other leading companies, his deep knowledge of the retail and consumer goods space, and his energy and drive will help accelerate our transformation plans.’ When Arnal was brought to Bed Bath & Beyond in April 2020, a company spokesman said in a statement that they “bring in world-class talent to offer new perspectives, expertise and experience as we rebuild our business.” Arnal joined Bed Bath & Beyond in 2020 – when the company was already struggling with the coronavirus pandemic – from London-based cosmetics giant Avon, where he was also CFO, and spent 20 years at Proctor & Gamble.
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