A group of activist investors released a 150-slide presentation criticizing Bed Bath & Beyond, including for selling too many garbage cans.
Business Insider/Jessica Tyleris being slammed by a group of activist investors who released a presentation with more than 150 slides pointing out everything wrong with the retailer.
That's the consensus of a group of activist investors — Legion Partners, Macellum Capital Management, and Ancora Advisors — pressuring the retailer and CEO Steven Temares to take a more dramatic position in turning around the futures of the struggling retailer. In one store walkthrough, the group found"trash baskets in six different locations within the store and an entire wall."Bed Bath & Beyond's stores have been called 'a mess,' but the chain might be starting to turn that aroundThis particular slide was accompanied by photos as evidence, all of which were taken from a single site."Square footage inside store can be reallocated to eliminate redundancy and improve productivity," the group writes.
"Upon our initial review, it appears that most of the operational areas targeted for improvement include actions the Company is already taking as part of its transformation plan, which are already well underway, or have been substantially completed," the company said in a statement on Friday.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bed Bath & Beyond refreshes board as co-founders step downBed Bath & Beyond said its co-founders and co-chairmen Warren Eisenberg and Leonard Feinstein would retire from the board and the retailer would appoint five independent board directors.
Read more »
Bed Bath & Beyond refreshes board, co-founders step downBed Bath & Beyond Inc said it appointed five new independent members to its boar...
Read more »
Bed Bath & Beyond refreshes board with 5 new independent directorsBed Bath & Beyond Inc. announced Monday a refreshment of its board of directors, in response to shareholder feedback, with five current independent...
Read more »
Bed Bath & Beyond shakes up board amid investor pressure, co-founders step downBed Bath & Beyond Inc said it appointed five new independent members to its boar...
Read more »
Activists pressuring Bed Bath & Beyond detail plan 'to stem the tide of value destruction'The trio of activist investors at Bed Bath & Beyond unveiled a case for why shareholders should elect their board nominees.
Read more »
Bed Bath & Beyond investor group proposes immediate replace of CEO, shares fallShares of Bed Bath & Beyond Inc. fell 1.5% in morning trade Friday, after an activist investor group proposed a plan to modernize the home furnishings retailer's strategies, boost earnings and shareholder value, starting with ousting the CEO. As part of the plan, the investor group, which includes Legion Partners Holdings LLC, Macellum Advisors GP LLC and Ancora Advisors LLC, said Chief Executive Steven Gemares "must be immediately replaced" to avoid further destruction of value. Temares has been CEO since 2003, and has been part of leadership since the company went public in 1992. The group said its plan, which also includes fixing the merchandise over-assortment, increasing employee training, improving vendor relations and cutting costs, will help boost annual earnings to $5.00 a share; the FactSet EPS consensus for 2019 is $1.96. The stock has lost 6.2% over the past 12 months, while the SPDR S&P Retail ETF has gained 0.1% and the S&P 500 has advanced 9.7%.
Read more »
Bed Bath & Beyond's Founders Are Stepping Down From Board: The End Of An Incredible EraWarren Eisenberg and Len Feinstein are stepping down from their positions as co-chairmen and directors at Bed Bath & Beyond, the retailer they founded more than 40 years ago
Read more »
Stocks making the biggest moves premarket: Bed Beth & Beyond, Tesla, Boeing, Amazon & moreSome of the names on the move ahead of the open.
Read more »
Skipping breakfast and eating a late dinner could be a killerEating dinner just before bed and skipping breakfast is a recipe for disaster, new study says
Read more »
Officer punching man handcuffed to hospital bed captured by bodycam cameraThe sheriff's office said it opened an internal investigation after the video surfaced.
Read more »
Video shows Florida deputy punching suspect handcuffed to hospital bedThe Broward County Sheriff's Department is involved in another scandal after Deputy Jorge Sobrino recorded attacking suspect.
Read more »