Bed Bath & Beyond begins rebuilding its leadership team
[ad_1] Bart Sichel Union, N.J. – Bed Bath & Beyond has hired a former Burlington Stores exec to oversee integrated marketing and customer strategies for Bed Bath & Beyond, buybuy Baby and Harmon banners. Bart Sichel, the company’s new EVP, chief marketing & customer officer, will report directly to corporate president and CEO Sue Gove. Sichel has […]
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With some suppliers pulling back, Bed Bath & Beyond makes another move to shore up liquidity
[ad_1] UNION, N.J. – Amid reports that some Bed Bath & Beyond suppliers have halted shipping, the retailer today announced that it has bought back $31.5 million in bonds by issuing 2.8 million shares to the noteholder. Following the closing of the transaction, which is expected to close around Nov. 14, the exchange notes will […]
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Another Bed Bath & Beyond exec heads for the exit
[ad_1] Union, N.J. – Bed Bath & Beyond announced the resignation of an EVP who was recruited into the company as former president and CEO Mark Tritton was building his leadership team in 2020. Rafeh Masood, executive vice president, chief customer & technology officer, will resign effective Dec. 2. “Mr. Masood’s resignation was not the result […]
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Is Bed Bath & Beyond beating HomeGoods at anything? Yes.
[ad_1] Seattle – One hasn’t generated a positive quarterly comp since early 2021. The other has been steadily cranking out fat same-store sales increases. So how is Bed Bath & Beyond beating HomeGoods U.S. stores on average spend? E-commerce makes a big difference, as seen in YipitData’s tracking for the July-August period. “HomeGoods launched its […]
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Bed Bath & Beyond names permanent president and CEO
[ad_1] Union, N.J. – After 4 months of executive search, Bed Bath & Beyond found its new leader close to home. Sue Gove This morning, the company announced that board member and interim CEO Sue Gove will serve as president and CEO. She succeeds Mark Tritton, who left the company in June. She will continue […]
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Bed Bath & Beyond: Details from its insolvency filing in Canada
[ad_1] Toronto – Bed Bath & Beyond continues to hack away at its physical store footprint in its quest to stave off bankruptcy. The company’s Canadian division has filed the equivalent of bankruptcy under the Companies Creditors Arrangement Act in the Ontario Superior Court. Bed Bath & Beyond’s insolvency filing states that the Canadian operation […]
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Bed Bath & Beyond to close 400+ stores in effort to stay afloat
[ad_1] Union, N.J. – With a fresh injection of financing, Bed Bath & Beyond has outlined a plan that includes incrementally cutting away at its store base and making its omni-channel operation more vendor-centric. The buybuy Baby chain is in the process of being pared down from 137 units to 120 stores. Going […]
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Hedge fund tosses a life preserver to Bed Bath & Beyond
[ad_1] Union, N.J. – Yesterday, Bed Bath & Beyond was scrambling for a cash infusion. Today, it got one. Hudson Bay Capital has stepped up to the plate as the anchor investor on the share sale Bed Bath & Beyond announced late yesterday, according to Bloomberg News and the Wall Street Journal. The hedge fund […]
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Bed Bath & Beyond looking to drum up $$$ and reset loan terms
[ad_1] Union, N.J. – Bed Bath & Beyond is making an offer it hopes investors won’t refuse. Seeking to unearth more than $1 billion in new cash, the company late this afternoon announced a proposed offering of shares of its Series A convertible preferred stock, warrants to purchase shares of Series A convertible preferred stock […]
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Clock starts ticking as Bed Bath & Beyond fails to make major interest payment
[ad_1] Union, N.J. – A week after receiving a default notice from lender JP Morgan, Bed Bath & Beyond yesterday took a powder on more than $1 billion in interest payments on bonds that came due Feb. 1. A Bed Bath & Beyond spokeswoman confirmed the missed payments to Bloomberg in a written statement. “Multiple […]
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