{"id":535978,"date":"2023-01-05T19:43:20","date_gmt":"2023-01-05T16:43:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bed-bath-beyond-shares-plunge-after-bankruptcy-warning\/"},"modified":"2023-01-05T19:43:20","modified_gmt":"2023-01-05T16:43:20","slug":"bed-bath-beyond-shares-plunge-after-bankruptcy-warning","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-shares-plunge-after-bankruptcy-warning\/","title":{"rendered":"#Bed Bath &#038; Beyond shares plunge after bankruptcy warning"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3373c706994\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3373c706994\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-shares-plunge-after-bankruptcy-warning\/#%E2%80%9CBed_Bath_Beyond_shares_plunge_after_bankruptcy_warning%E2%80%9D\" >&#8220;Bed Bath &#038; Beyond shares plunge after bankruptcy warning&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBed_Bath_Beyond_shares_plunge_after_bankruptcy_warning%E2%80%9D\"><\/span>&#8220;Bed Bath &#038; Beyond shares plunge after bankruptcy warning&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/Bed-Bath-Beyond.jpg?quality=90&amp;strip=all\" \/><\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Struggling Bed Bath &amp; Beyond warned on Thursday that there\u2019s substantial doubt about the company\u2019s ability to continue as a \u201cgoing concern\u201d as sales continue to drop and it struggles to attract shoppers.<\/p>\n<p>The company, based in Union, NJ, said that it\u2019s looking at several options including restructuring its business in bankruptcy court, but it acknowledged that even those efforts may not be successful. Shares fell 30% to $1.69 on the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>.<\/p>\n<p>The company\u2019s assessment came as its dismal performance continued through the holiday season.<\/p>\n<p>The company expects to report net sales of $1.26 billion for the third quarter ended Nov. 26. That would be a 32% drop from a year earlier. It also anticipates a net loss of roughly $385.8 million for the third quarter, wider than its loss of $276.4 million in the year-earlier period.<\/p>\n<p>The company\u2019s CEO and president Sue Gove blamed the poor performance on inventory constraints and reduced credit limits that resulted in shortages of merchandise on the shelves.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>In August, Bed Bath &amp; Beyond announced it would shutter stores and lay off workers in a bid to turn around its beleaguered business. It closed about 150 of its namesakes stores and slashed its workforce by 20%. It estimated those cuts would save $250 million in the company\u2019s current fiscal year. It also said in August that it had lined up more than $500 million of new financing.<\/p>\n<p>In September, chief financial officer Gustavo Arnal jumped to his death from the iconic new Tribeca skyscraper known as the \u201cJenga Building,\u201d The Post reported.<\/p>\n<p>Mired in a prolonged sales slump, the company also announced back in August that it would revert to its original strategy of focusing on national brands, instead of pushing its own store labels.<\/p>\n<p>That reversed a strategy embraced by its former CEO Mark Tritton, who was ousted last June after less than three years at the helm. It said it would get rid of one-third of its store brands, which had started to be rolled out in the last year or so.<\/p>\n<p>Neil Saunders, managing director of GlobalData Retail, wrote in a report Thursday that Bed Bath &amp; Beyond is \u201ctoo far gone to be saved in its present form.\u201d He noted that the company could restructure under Chapter 11, but it would still need to come up with a credible plan to reinvent the business, and that is going to be challenging, particularly in a weakening economic environment.<\/p>\n<p>\u201cA catalogue of missteps has run the company into the ground and has made it increasingly irrelevant,\u201d he wrote. \u201cOnly very radical action will allow it to survive and even if it does, it will be a shadow of its former self.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2023\/01\/05\/bed-bath-beyond-shares-plunge-after-bankruptcy-warning\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bed Bath &#038; Beyond shares plunge after bankruptcy warning&#8221; Struggling Bed Bath &amp; Beyond warned on Thursday that there\u2019s substantial doubt about the company\u2019s ability to continue as a \u201cgoing concern\u201d as sales continue to drop and it struggles to attract shoppers. The company, based in Union, NJ, said that it\u2019s looking at several options&#8230;<\/p>\n","protected":false},"author":1,"featured_media":535979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/Bed-Bath-Beyond.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[138036,4978,77953,5015],"class_list":["post-535978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-5-23","tag-bankruptcy","tag-bed-bath-beyond","tag-retailers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/535978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=535978"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/535978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/535979"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=535978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=535978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=535978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}