Beleaguered retailer announced more than 50 locations that will be shuttered, from Arizona to Washington state.
Investors were also rattled earlier this month when its chief financial officer, Gustavo Arnal, died afterfrom a luxury skyscraper in downtown Manhattan. The New York City medical examiner's office ruled his death a suicide.
In the meantime, Bed Bath & Beyond is focusing on shoring up its financials, with GlobalData analyst Neil Saunders describing them as"in a parlous state." "The past few years of poor strategy have caused severe financial pain, and the scars will be borne in around 150 store closures and a curtailment of refurbishment programs," he said in a recent research note about the closures."These actions are necessary, but they underline that before the group can advance it will need to take several steps back.
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