Union, N.J. – The rumor mill has been whirling since Bed Bath & Beyond made its final public assertion on July 14 at its annual shareholder assembly.
Late as we speak, the corporate introduced it can present a preview subsequent week of its transformation methods and the modifications being applied throughout the enterprise to enhance the enterprise. The dwell name with traders shall be publicly accessible and shall be broadcast on Aug. 31 at 8:15 a.m. ET. A press launch and associated supplies shall be issued round 7:30 a.m. ET.
“We acknowledge the robust curiosity in our firm and our plans to raised serve clients, recapture market share, drive progress and profitability, guarantee our distributors are supported and strengthen our stability sheet,” stated Sue Gove, director and interim CEO.
The corporate has reportedly discovered a brand new financing supply to boast its liquidity, based on the Wall Road Journal. Subsequent week’s presentation can be prone to embody an replace on its plans to rebalance the over-assortment of personal label manufacturers within the combine. Different pending issues embody the potential sale of its buybuy Child enterprise in addition to the corporate’s seek for a everlasting CEO.
The present fiscal yr received off to a rocky begin, with whole first quarter gross sales tumbling 25% and web loss widening to greater than $357 million. Comp gross sales on the Mattress Tub & Past chain dropped 27% throughout Q1, which ended Could 28.
Trade watchers on the lookout for inexperienced shoots subsequent week may also be listening for a sign of how the back-to-college season is performing. Mattress Tub has historically had a sizeable market share there, and kicked of its advertising of BTC weeks sooner than normal this yr.
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