• Get ready to see more name brands at Bed Bath & Beyond as the struggling retailer embarks on a massive turnaround effort

    25 days ago - By Business Insider

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    Bed Bath & Beyond announced a sweeping turnaround plan during a financial-update call for investors.
    The plan includes backpedaling on owned brands in favor of national, well-known labels.
    Bed Bath & Beyond will also close 150 stores, cut 20% of its staff, and secure new financing.
    Bed Bath & Beyond stores may soon look a little different. The flailing home-goods retailer unveiled its ambitious turnaround plan on Wednesday, a plan that includes closing 150 stores , cutting 20% of its staff, and backpedaling on its strategy of pushing private labels over national brands. The...
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  • Bed Bath & Beyond plunges 28% as the meme-trader favorite plans offering of up to 12 million shares and to cut up to 20% of staff

    25 days ago - By Business Insider

    Michael M. Santiago/Getty Images
    Bed Bath & Beyond shares tumbled 28% Wednesday after updates from the struggling retailer.
    The meme-trader favorite plans a stock offering of up to 12 million shares.
    It's already starting to close 150 stores and it will cut jobs.
    Bed Bath & Beyond shares lost nearly a third of their value Wednesday after the struggling housewares retailer and meme-trader favorite said it plans to launch a stock offering and is closing more than 100 stores as it continues restructuring efforts. Shares tumbled as much as 28% to $8.76, the lowest price in a week, as trading...
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  • Bed Bath & Beyond is closing 150 stores and slashing 20% of its corporate staff

    25 days ago - By Business Insider

    A Bed Bath & Beyond store in New York City. Michael Santiago/Getty Images
    Bed Bath & Beyond announced it is closing about 150 stores ahead of the retailer's earnings call.
    The company is also cutting its corporate staff by about 20% as sales fell 25% last quarter.
    The company is one of several to initiate a round of sweeping layoffs in recent months.
    Bed Bath & Beyond plans to close about 150 of its stores and cut its corporate workforce by 20%. The announcement was made ahead of a financial-update call on Wednesday. Shares of the retailer's stock fell by more than 24% after Bed Bath &...
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