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Saturday, nov 30
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Bed Bath & Beyond
Business
1.75 Million Travel Steam Irons Part Of Expanded Recall For Fire, Burn, Shock Hazards
Federal authorities announced that a recall initially reported in May has been expanded to include an additional 1.7 million travel irons after there were new reports of injuries. Kansas-based Vornado announced that it is now recalling upwards of two million Steamfast Home and Away Travel Steam Irons due to fire, burn, and shock hazards due to a faulty power cord. According to the company, the cord can become damaged, leading to possible overheating, which then poses fire and burn risks. The damage can also lead to exposed copper wires, representing a shock hazard. Steamfast travel ste…
Business
Bed Bath & Beyond Lives On - Sort Of: Overstock's Acquisition To Include Rebranding
Despite filing for bankruptcy and announcing the closures of its remaining stores, Bed Bath & Beyond will live on -- sort of -- thanks to one of the biggest names in e-commerce. Overstock purchased the home goods retailer's brand and domain names, and loyalty program assets this week for over $21 million. Overstock currently specializes in online furniture and home furnishings. Within the next week, Overstock said it plans to re-launch the Bed Bath & Beyond domain in Canada, followed weeks later by the re-launch of a refreshed website, mobile app, and loyalty program in th…
Business
Bed Bath & Beyond Plans To Close Remaining Stores After Filing For Bankruptcy
Struggling home goods retailer Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on Sunday, April 23 with plans to close all of its remaining stores by June after efforts to raise enough money to keep the company alive came up short. The company said in a statement that it will implement "an orderly wind-down" of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets. For now, 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will remain open and continue serving customers as…
Business
New Bed Bath & Beyond Closures Include 5 Westchester Stores
Nearly two dozen New York locations are among a new round of scheduled closures announced by struggling home goods retailer Bed Bath & Beyond. Another 87 stores are due to close in 2023, the company announced this week, including 23 locations in New York. That brings the total number of Bed Bath & Beyond locations scheduled to close to at least 162 announced since September 2022. A spokesperson told Axios that the latest round of closures will include all of the company's Harmon beauty shops, as well as five Buy Buy Baby locations. “This store fleet reduction expands the compan…
Business
New Bed Bath & Beyond Store Closures Include Hudson Valley Location
A Hudson Valley location is among a new batch of scheduled closures announced by struggling home goods retailer Bed Bath & Beyond. A total of 62 newly listed stores will close, the company said this week, including a store located in Ulster County, on 1187 Ulster Ave. in Kingston. This comes after Bed Bath & Beyond announced 56 other stores closes this past September including two others in the Hudson Valley: in Orange County (at 470 Route 211 East in Wallkill) and in Westchester (at 500 East Sandford Blvd. in Mount Vernon). The full list of closures is available here.
Business
New Bed Bath & Beyond Store Closures Include Westchester Location
Struggling home goods retailer Bed Bath & Beyond has announced 56 new store closures that it says will be implemented by the end of the calendar year. The closure list includes five locations in New York State: Nassau County: 251 Airport Plaza Blvd., Farmingdale Orange County: Orange Plaza 470 Route 211 East, Wallkill Westchester County: 500 East Sandford Blvd., Mount Vernon Oneida County: 4805 Commercial Drive, New Hartford Clinton County: 73 Centre Drive, Suite 100 Plattsburgh The company is due to report its results for the second quarter later this …
News
Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report
An executive at Bed Bath & Beyond who jumped 18 stories to his death at the so-called "Jenga" tower in New York City where he lived on Friday, Sept. 2 was facing a $1.2 billion insider trading lawsuit, according to a new report. Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer. Arnal was among several defendants named in a complaint alleging a "pump-and-dump" stock fraud scheme, the Daily Mail first reported. Bed Bath & Beyond, the lead defendant, allegedly made a “materially false and misleading statement” in a Securities and Exchange …
News
Bed Bath & Beyond Exec ID’d As Man Who Jumped To His Death From 18th Floor Of Manhattan Tower
Updated story: Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report An executive at Bed Bath & Beyond has been identified as the man who jumped 18 stories to his death at the so-called "Jenga" tower in New York City on Friday, Sept. 2, according to multiple reports. Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer. Calls reporting a jumper came around 12:30 p.m. from the 60-story building's location in lower Manhattan's Tribeca neighborhood at 56 Leonard Street near Church Street, a…
Business
Bed Bath & Beyond Accused Of Scaling Back AC In Stores Amid Drop In Sales
Bed Bath & Beyond is being accused of cutting air conditioning in its stores in an attempt to lower company expenses, according to a new report from CNN. The news outlet said in a report on Tuesday, June 28, that Bank of America conducted store visits and found that the stores are cutting the AC to try to recover for lower sales. Representatives for Bed Bath & Beyond told CNN that "... no Bed Bath & Beyond stores were directed to adjust their air conditioning and there have been no corporate policy changes in regard to utilities usage." CNN reported that the analysts from Bank …
Business
Bed Bath & Beyond To Close Two Hudson Valley Stores
Two additional Bed Bath & Beyond stores in the Lower Hudson Valley are set to close. Company officials announced the Bed Bath & Beyond store in Spring Valley Marketplace as well as in Port Chester will close in the next couple of months. "After careful consideration, Bed Bath & Beyond has decided to close the Spring Valley location and Port Chester in the coming months, as part of our previously announced store closure plans," a spokesperson for the store said. The spokesperson said employees have been notified, and the decision to close the stores was a "difficult one." The o…
Business
Some NYC Businesses Board Up Ahead Of Election Day
Some New York City business owners are preparing for potential unrest due to the 2020 presidential election and are taking steps to ensure their storefronts are safe from potential civil disturbances. With what is expected to be one of the most heated elections in history, some store owners in parts of Manhattan have boarded up windows and doors in case there are any demonstrations in advance of voting on Tuesday, Nov. 3. Related story - Here's Percentage Of Americans Who Say 2020 Election Day Will Be Most Stressful Of Their Lives According to reports, among the businesses to begin boardin…
Business
Bed Bath & Beyond To Eliminate Nearly 3,000 Jobs Starting Immediately
Bed Bath & Beyond will cut nearly 3,000 jobs under a plan to cut costs and streamline operations. Jobs will start to be eliminated immediately, the company said in a statement on Tuesday, Aug. 25. "In conjunction with the organizational realignment, the company has implemented a significant workforce reduction of approximately 2,800 roles from across its corporate headquarters and retail banner stores, effective immediately," the statement said. "This action is designed to further reduce layers at the corporate level, significantly reposition field operations to better serve…
Business
Covid-
19: Bed, Bath & Beyond Closes Palisades Center Store
The Bed Bath & Beyond at the Palisades Center Mall has shuttered its doors as its parent company restructures its businesses due to the novel coronavirus (COVID-19) pandemic. The West Nyack location is among approximately 200 locations that are set to close in the next two years, marking approximately 21 percent of its stores across the country. According to the company, it saw its net sales decrease by 49 percent in the first fiscal quarter due to the shutdown caused by the pandemic, though digital sales grew 82 percent in that time. “The impact of the COVID-19 situation was felt…
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