BBBY: Bed Bath & Beyond CFO Reportedly Falls From 18th Floor Of Manhattan Tower

It is being reported by the New York Post that Gustavo Arnal, the chief financial officer of Bed Bath & Beyond (NASDAQ: BBBY), has been identified as the person whom jumped off the 18th floor of a Manhattan office building.

Arnal’s death follows the news from two days prior that the company would be closing up to 150 locations and cutting 20% of corporate and supply chain positions as it looks to rebuild its failing business. The retailer also intends to cut its expenditures by $250 million through the current fiscal year, while capital spending has also been reduced substantially.

Net sales meanwhile are forecasted to decline by 26% on a year over year basis in the coming quarter, with free cash flow coming in at negative $325 million. The cash burn lead the company to file for an at-the-market financing that would see the firm sell up to 12 million common shares, which comes as the firm sees its stock price return to single digits.

Arnal had a short stint at the firm, having joined the company in 2020 after serving as the CFO for Avon, a cosmetics firm, prior to which he spent two decades at Proctor and Gamble. He was 52.


Information for this briefing was found via the New York Post and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Overstock Acquires Bed Bath & Beyond Banner, To Make Retailer Online-Only

The Bed Bath & Beyond banner will live on. It was revealed last night that...

Thursday, June 29, 2023, 08:59:32 AM

BBBY: Bed Bath & Beyond Continues To Trade Despite Zero Recovery For Shareholders Under Bankruptcy Plan

Understanding the seemingly unshakeable optimism of many meme stock investors is frequently a challenging exercise....

Sunday, September 24, 2023, 11:44:00 AM

BBBY: Bed Bath & Beyond To Shutter Canadian Operations After Filing For Creditor Protection

The end of Bed Bath & Beyond (NASDAQ: BBBY) has begun, with the Canadian arm...

Saturday, February 11, 2023, 12:16:14 PM

BBBY: Bed Bath & Beyond Considers Bankruptcy Filing After Defaulting On Debt

Home goods retailer Bed Bath & Beyond (NASDAQ: BBBY) indicated in a filing today that...

Thursday, January 26, 2023, 03:25:22 PM

Is Ryan Cohen About To Do A Bed Bath & Beyond On Alibaba?

Billionaire investor Ryan Cohen has established a stake in China’s Alibaba Group worth hundreds of...

Tuesday, January 17, 2023, 08:10:00 AM