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☆ Boeing just pulled a classic corporate America move and promoted a woman to clean up its mess
▼ + stars: | 2024-03-26 | by ( Meghan Morris | ) www.businessinsider.com time to read: +3 min

Boeing named Stephanie Pope the new CEO of its commercial airlines division on Monday. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStephanie Pope knows Boeing well: a third-generation employee, she joined the company in 1994. Pope did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: Stephanie Pope, —, Pope, Stan Deal, Michelle Ryan, Elon Musk, Linda Yaccarino, Yaccarino, Carly Fiorina, Marissa Mayer, Sue Gove, Calhoun Organizations: Boeing, Service, BCA, Boeing Global Services, Twitter, HP, Yahoo, Bed, Business Insider

SAN JUAN, Puerto Rico (AP) — A group of residents have sued a public utility company in the U.S. Virgin Islands after authorities there reported finding high levels of lead and copper in the tap water on St. Croix. He said the agency acted swiftly and transparently after the test results became available and that officials are still working to improve water quality in St. Croix. “What people are looking for is justice.”The investigation into the state of tap water in St. Croix began in late September, following complaints of reddish-brown water on the island of more than 50,600 people. In late October, the local government announced that officials found high levels of lead and copper and warned people not to drink their tap water. She also criticized the government for announcing a couple of weeks ago that lead levels were low or undetectable at samples taken from various schools across St. Croix.

Persons: Andrew Smith, ”, Lee J, Rohn, St . Croix, Joe Biden, “, they’re, WAPA Organizations: JUAN, U.S . Virgin, territory’s, Power Authority, Seas Water Corporation, Water Corporation, U.S . Virgin Islands, The Associated Press, U.S . Environmental Protection Agency, Rohn, U.S . Centers for Disease Control Locations: Puerto Rico, U.S, U.S . Virgin Islands, St . Croix, Florida, St .

Bed Bath & Beyond logo is seen on the shop in Williston, Vermont on June 19, 2023. WASHINGTON — Home goods retailer Bed Bath & Beyond is facing scrutiny from Democratic lawmakers for allegedly evading severance pay for thousands of employees laid off after its recent bankruptcy. The lawmakers claim Bed Bath & Beyond denied some workers severance pay after it filed for bankruptcy in April and began closing stores and laying off workers. Bed Bath & Beyond did not immediately return request for comment on the lawmakers' letter. Warren, a member of the Senate Banking Committee, and Booker asked Bed Bath & Beyond to commit to providing severance to its workers and for detailed information on its severance policy, stock buybacks and dividends and other related issues.

Persons: Sue Gove, Elizabeth Warren of, Cory Booker of, Warren, Booker Organizations: WASHINGTON —, Bed, Democratic, New, Banking Committee Locations: Williston , Vermont, Sens, Elizabeth Warren of Massachusetts, Cory Booker of New Jersey, New Jersey, buybacks

June 20 (Reuters) - The U.S. Supreme Court on Tuesday threw out a lower court ruling that blocked South Carolina from ending public funding to Planned Parenthood, giving the Republican-governed state another chance to defend its bid to deprive the reproductive healthcare and abortion provider of government money. Circuit Court of Appeals had barred South Carolina from terminating funding to Planned Parenthood South Atlantic, the organization's regional affiliate, under Medicaid, because the organization provides abortions. Planned Parenthood South Atlantic operates clinics in the South Carolina cities of Charleston and Columbia, where it provides physical exams, cancer and other health screenings, as well as abortions. South Carolina is one of numerous Republican-led states that have moved to ban or restrict abortion since the Supreme Court in 2022 overturned the landmark 1973 Roe v. Wade decision that had legalized the procedure nationwide. The law is a revised version of a previous ban that the state's highest court struck down in January.

Persons: Julie Edwards, Henry McMaster, Edwards, Roe, Wade, Andrew Chung, Nate Raymond, Will Dunham Organizations: U.S, Supreme, Republican, Circuit, Appeals, Atlantic, Medicaid, Federal Nursing Home, Thomson Locations: South Carolina, Indiana, Richmond , Virginia, Charleston, Columbia, South Carolina's, New York, Boston

☆ Is Twitter's new CEO, Linda Yaccarino, being set up to fall off the 'glass cliff'?
▼ + stars: | 2023-05-16 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

Elon Musk appointed Linda Yaccarino, a former NBCUniversal exec, to succeed him as CEO of Twitter. Amid Twitter's turmoil, some suggest that Yaccarino could fall prey to the so-called "glass cliff." While men often glide on a "glass escalator" to the corner office, women often confront a "glass ceiling." "I wish we were seen as good leaders in good times, too." I wish we were seen as good leaders in good times, too."

☆ Bed Bath & Beyond files for bankruptcy
▼ + stars: | 2023-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Chris Hammons unloads a bag of items she purchased at a Bed Bath & Beyond store in Dallas, Texas September 23, 2009. In its bankruptcy filing, Bed Bath & Beyond said it had $5.2 billion in debt and assets of just $4.4 billion. Discount chains such as HomeGoods and TJ Maxx have also undercut Bed Bath & Beyond’s prices. Without the differentiators of the lowest prices or widest selection, Bed Bath & Beyond’s sales stagnated from 2012 to 2019. And Bed Bath & Beyond is the latest retail chain to file for bankruptcy this year.

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☆ You've only got a couple of days left to use Bed Bath & Beyond coupons after the retailer filed for bankruptcy
▼ + stars: | 2023-04-23 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Shoppers have just days left to use any Bed Bath & Beyond coupons they may have been holding on to. The 360 remaining Bed Bath & Beyond stores, as well as 120 BuyBuy Baby stores, will start liquidating stock Wednesday. Bed Bath & Beyond CEO Sue Gove said: "Our teams have worked with incredible purpose to support and strengthen our beloved banners, Bed Bath & Beyond and buybuy BABY. Couples who used Bed Bath & Beyond for their wedding registry, a number that has dropped significantly in recent years, will have their data transferred to a new partner yet to be named. Bed Bath & Beyond did not immediately respond to a request for comment from Insider, made outside normal working hours.

☆ Bed Bath & Beyond stiffed thousands of workers on severance pay
▼ + stars: | 2023-04-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Bed Bath & Beyond has been on bankruptcy watch and has been closing hundreds of stores since late 2022. Toys "R" Us and other chains that filed for bankruptcy have been criticized for failing to pay workers severance. There is no federal requirement for severance pay, although some collective bargaining agreements with unions cover severance agreements. At Bed Bath & Beyond, CEO Sue Gove is eligible for $7.1 million in severance pay and former Bed Bath & Beyond CEO Mark Tritton is suing the company for $6.8 million in unpaid severance. ‘This was our reward’Some Bed Bath & Beyond employees recently laid off in other states did not receive severance pay either, as first reported by Bloomberg.

☆ Bed Bath & Beyond gets $120 million lifeline to help it stock near barren shelves
▼ + stars: | 2023-04-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Cash-starved Bed, Bath & Beyond, which is scrambling to avoid bankruptcy, announced a $120 million lifeline to help it stock near-empty shelves. One reason that the chain’s sales have fallen and losses have mounted is that the company doesn’t have the funds needed to buy inventory in order to stock shelves. The money comes from ReStore Capital, which will purchase up to $120 million of merchandise from Bed, Bath & Beyond’s suppliers in order to supplement stock at Bed Bath & Beyond and buybuy BABY. “This … solution can allow us to strengthen merchandise availability and better fulfill demand.”Shelves are seen empty inside of a closed Bed Bath and Beyond store on February 08, 2023 in Larkspur, California. Last week, the company disclosed in a filing plans to sell $300 million worth of its stock to raise much-needed cash.

☆ Bed Bath & Beyond gets $120 million merchandise lifeline as it faces bankruptcy threat
▼ + stars: | 2023-04-05 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

Bed Bath & Beyond announced Wednesday it is working with Hilco Global to get merchandise back on its shelves in the company's latest effort to stay alive and avoid bankruptcy. Last week, the company reported preliminary results for its fiscal fourth quarter. The company noted negative operating losses have continued, although it noted it hasn't depleted its free cash flow. The company reported $2.05 billion in revenue for the fiscal fourth quarter of 2021. On March 30, Bed Bath announced another stock offering of $300 million and warned it would likely need to file for bankruptcy protection if it doesn't work out.

☆ Bed Bath & Beyond's ousted CEO says he's not to blame for the company's failed turnaround and demands his $6.7 million severance
▼ + stars: | 2023-04-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Former Bed Bath & Beyond CEO Mark Tritton is suing the company, alleging non-payment of his severance agreement. Bed Bath & Beyond said Thursday it needs to raise up to $300 million in new funding to avoid bankruptcy. A representative for Bed Bath & Beyond told Insider the company does not comment on legal matters. One of Bed Bath & Beyond's biggest problems in 2019, the suit says, was its failure to have a serious private-label strategy and Tritton was specifically hired to give it one. If you are a current or former employee of Bed Bath & Beyond or Harmon who would like to share your story, please get in touch with Dominick via email.

☆ Bed Bath & Beyond set to complete a round of layoffs in New Jersey the day before a new state law takes effect that would mean millions more in severance for workers
▼ + stars: | 2023-03-24 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Bed Bath & Beyond is closing 43 stores, two warehouses, and one fulfillment center in New Jersey. New layoff rules go into effect on April 10 in the state, which could have cost the company millions. On the morning of Tuesday, January 10, Bed Bath & Beyond CEO Sue Gove offered a rosy update about the company's turnaround strategy during its third-quarter earnings call. Representatives for Bed Bath & Beyond did not respond to Insider's question about whether the law influenced the timing of its New Jersey closures. Unlike prior cuts in which as many as 12 weeks of severance pay were given, Bed Bath & Beyond workers in several states affected by this round of layoffs tell Insider they will receive nothing.

☆ Bed Bath & Beyond announces reverse stock split plan, shares drop
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

March 17 (Reuters) - Bed Bath & Beyond (BBBY.O) said on Friday it was seeking shareholder approval for a reverse stock split, sending the struggling retailer's shares 13% lower in extended trading. The company plans to hold a special meeting on March 27 to determine the split at a ratio in the range of 1-for-5 to 1-for-10, with the final ratio to be decided by the board. "The board believes that the reverse stock split will likely result in a higher per-share trading price, which is intended to generate greater investor interest in the company," Bed Bath & Beyond said in a regulatory filing. In February, the company said it was planning to raise some $1 billion through an offering of preferred stock and warrants. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Bed Bath & Beyond raises $135 million more to aid turnaround effort
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

March 8 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) said on Wednesday it had raised another $135 million in an equity offering and was in the process of rebuilding its business after teetering on the brink of bankruptcy. The retailer has so far raised $360 million out of the roughly $1 billion that it planned in a complex deal of preferred stock and warrant offerings. "Over the past month, we have been rebuilding our financial and operational positioning to execute our customer-focused turnaround plans," Chief Executive Sue Gove said in a statement. In January, the company raised doubts about its ability to continue as a going concern, just months after it announced job cuts and 150 store closures. Reporting by Uday Sampath in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Bed Bath & Beyond’s storied brand and the passionate interest of individual investors helped the retailer secure a lifeline. Sue Gove wanted to keep Bed Bath & Beyond Inc. out of bankruptcy. Few believed it was possible. Alarmed by the retailer’s deteriorating finances, banks in January had cut off their credit lines and pushed for the company to start a liquidation, including selling off inventory, to repay their loans, said people familiar with the matter.

☆ Bed Bath & Beyond used to have over 1,000 stores. Soon, it will have just 360.
▼ + stars: | 2023-02-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Bed Bath & Beyond plans to slim down to just 360 housewares stores nationwide. "We continue to put our customers at the center of every decision, positioning Bed Bath & Beyond to meet and exceed their expectations," CEO Sue Gove said in a statement. Bed Bath & Beyond did not immediately respond to Insider's request for comment. "Store closings, especially of this magnitude, are a symptom of a problem," Saunders said. "Suppliers are very nervous about Bed Bath & Beyond," Saunders said.

Analysts said the new cash may afford Bed Bath only a few quarters to revive its business, and a weakening economy would diminish any chance of a successful turnaround. Bed Bath declined to comment on Hudson Bay Capital's role in the share sale. "All is on hold," a maker of children's apparel said last week, adding that it had stopped shipping products to Bed Bath since early January. A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. Reuters reported late last month that Bed Bath had lined up liquidators to close additional stores unless a last-minute buyer emerged.

☆ Meme investors go to bed, take a bath
▼ + stars: | 2023-02-07 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

And that showed on Monday, when American sheets and curtains retailer Bed Bath & Beyond (BBBY.O) moved to bring in a new cash injection. Bed Bath & Beyond has been on the brink of collapse for a while, warning recently that a bankruptcy filing could be on the horizon. Recently, though, even as talk of bankruptcy has grown, shares in Bed Bath & Beyond have been on a tear again. That culminated in the announcement Tuesday morning that it had priced an offering of preferred stock and warrants, which comes on top of the rearrangement of some of its debt. CONTEXT NEWSRetailer Bed Bath & Beyond said on Feb. 7 that it had priced an offering of convertible preferred stock, as well as warrants to purchase further preferred shares and common stock.

Bed Bath & Beyond did not take questions from analysts on its Tuesday conference call "in light of the ongoing review of strategic alternatives," said Susie Kim, head of investor relations. "It's definitely a cause for concern," said bankruptcy lawyer Daniel Gielchinsky, who does not represent Bed Bath & Beyond. Bed Bath & Beyond said it started cost reductions of about $80 million to $100 million across the business. Morningstar analyst Jaime Katz expects a Bed Bath & Beyond bankruptcy filing in the first half of 2023. The retailer reported a non-GAAP loss of $3.65 per share, wider than Wall Street's estimate of a loss of $2.23 per share.

☆ Bed Bath & Beyond reports quarterly loss, bankruptcy threat looms
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

Jan 10 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) on Tuesday reported a quarterly loss of about $393 million after a tough holiday season that it hoped would provide a financial cushion to its months-long cash burn. The company did not say if it would file for bankruptcy after saying last week it was working with outside advisers to look at various options after years of weakening sales. Bed Bath & Beyond also said it started cost reductions of about $80 million to $100 million across the business, including overhead expenses and headcount. The big-box retailer is considering skipping its debt payments due on Feb. 1 in an effort to conserve cash ahead of a possible bankruptcy filing, Reuters reported earlier. Bed Bath & Beyond reported a $3.65 non-GAAP loss per share, missing Wall Street's estimates for a loss per share of $2.23.

☆ Bed Bath & Beyond stock skyrockets 65% even as it reports a bigger-than-expected quarterly loss
▼ + stars: | 2023-01-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond stock soared on Tuesday despite a downbeat earnings report. The home-goods retailer saw deeper quarterly losses than expected, after warning last week of a potential bankruptcy filing. On Monday, the meme stock saw a separate 30% surge amid speculation among Reddit users about a potential merger and acquisition deal. He explained how two December S-4 filings and an NT 10-Q document from Bed Bath & Beyond fueled the M&A theory. In early 2021, Bed Bath & Beyond was right there with GameStop as part of the meme-stock craze that dominated headlines and talks across Reddit's WallStreetBets page.

☆ Bed Bath & Beyond is running out of time
▼ + stars: | 2023-01-10 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

CNN —Bed Bath & Beyond lost a third of its sales during the holiday run-up and is running out of options to avoid bankruptcy. Sales plunged in large part because Bed Bath & Beyond did not have enough stuff on shelves from suppliers. Bed Bath & Beyond previously announced that it would close around 150 stores by the end of its 2022 fiscal year and cut costs by $500 million, including by cutting jobs. Last week, Bed Bath & Beyond issued a grim message about its future, warning that a bankruptcy filing is a possible outcome for the company. Many shoppers switched to those competitors as the novelty of Bed Bath & Beyond’s coupons faded – consumers can find plenty of cheaper alternatives on Amazon (AMZN) and other online sites.

☆ Bed Bath & Beyond lays off more employees as it fights to survive
▼ + stars: | 2023-01-10 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

A "Store Closing" banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023. Bed Bath & Beyond has begun its latest round of layoffs, as it fights to stay in business, according to a memo sent to employees Tuesday that was obtained by CNBC. Bed Bath & Beyond is approaching a potential bankruptcy, as its sales decline and losses grow. Bed Bath issued a "going concern" warning last week, saying it may run out of funds to cover expenses. Gove said in the memo Tuesday that Bed Bath will hold a town hall on Wednesday to discuss its future.

☆ Bed Bath & Beyond reports wider-than-expected loss as possible bankruptcy looms
▼ + stars: | 2023-01-10 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

A man is seen at a Bed Bath & Beyond store in New York, on Jan. 5, 2023. Bed Bath lost $393 million during the period, it said Tuesday, worse even than the $385.8 million quarterly loss it projected just last week and 42% larger than the loss it reported in the year-ago quarter. The quarterly losses include an approximately $100 million impairment charge, which the company said Tuesday was related to "certain store-level assets." Bed Bath's net losses have now exceeded $1.12 billion for the first nine months of the fiscal year. Namesake banner Bed Bath & Beyond's comparable sales dropped by 34% and Buybuy Baby's comparable sales declines were in the low-20% range.

In this article BBBY Follow your favorite stocks CREATE FREE ACCOUNTA pedestrian walks by a Bed Bath and Beyond store in San Francisco, California. Justin Sullivan | Getty ImagesWhen Bed Bath & Beyond leaders speak to investors Tuesday morning, they won't simply report sales and earnings results. On Thursday, Bed Bath warned it may have to file for bankruptcy, saying it could soon be unable to cover costs as sales lag and store traffic dwindles. If Bed Bath has made significant inroads in improving inventory, it could offer a glimmer of hope for the quarters ahead. Before Bed Bath can address moving product off shelves, though, it needs to tackle an even more fundamental problem: having enough merchandise to fill them.

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