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☆ Bed Bath & Beyond’s Tough Challenge: Shutting Stores Without Paying a Fortune
▼ + stars: | 2023-02-13 | by ( Soma Biswas | Kate King | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc. could face tough negotiations with landlords and pay a high price to close out leases on hundreds of stores as the retailer attempts to downsize without the protection of bankruptcy. A last-minute equity financing of up to $1 billion provided the company enough capital to pay down bank loans, which Bed Bath defaulted last month. But staying out of chapter 11 also means it loses negotiating leverage it would otherwise have in bankruptcy.

☆ How Bed Bath & Beyond ended up on the verge of bankruptcy
▼ + stars: | 2023-02-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Here’s how Bed Bath & Beyond, once a retailer pioneer, veered to the edge of bankruptcy and where it turns next. Brands coveted a spot on Bed Bath & Beyond’s shelves, knowing it would lead to big sales. Discount chains such as HomeGoods and TJ Maxx and 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. Otherwise, too much of Bed Bath & Beyond’s revenue will go toward repaying debt that it won’t be able to turn a profit.

☆ Bed Bath & Beyond is closing 150 more stores
▼ + stars: | 2023-02-07 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Bed Bath & Beyond is closing 150 more stores — just a week after the struggling retailer announced the closure of 87 locations. Bed Bath & Beyond held talks in recent days with an investment firm to underwrite a significant portion of the proposed offering, according to Reuters. Company’s troublesFounded in 1971, Bed Bath & Beyond became a staple for affordable home decor, kitchenware and college dorm room furniture. Many shoppers switched to those competitors as the novelty of Bed Bath & Beyond’s coupons faded. The company was also hit hard during the pandemic, closing stores temporarily during 2020 while rivals remained open.

☆ 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.

☆ Real and fake meat share problems
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

TORONTO, Feb 6 (Reuters Breakingviews) - Pain in the fake meat market is starting to spread to the real one. That’s still much better than Beyond Meat (BYND.O), which isn’t even booking an operating profit at this point. But the two companies share a few of the same problems that aren’t going away. With prices along the supply chain going up, including for transportation, consumers are making other choices. Forgoing meat – no matter the consistency – is a real problem.

☆ Bed Bath & Beyond’s Woes Prompt Landlords to Line Up New Tenants
▼ + stars: | 2023-01-30 | by ( Kate King | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc.’s slide toward a potential bankruptcy filing threatens to flood the retail real-estate market with hundreds of vacant stores after the company said last week it would close about 90 additional locations. But landlords who own big-box space occupied by the troubled home-goods retailer are more confident about finding new tenants than they would have been in years past, according to property owners and retail analysts.

CNN —The end could be near for struggling retailer Bed Bath & Beyond, as it warned in a regulatory filing Thursday that it received a notice of default from its lender, JPMorgan Chase. Shares of Bed Bath & Beyond (BBBY) plunged more than 20% on the news, to about $2.56 a share. Bed Bath & Beyond could be forced to file for Chapter 11 bankruptcy reorganization due to its financial woes. Founded in 1971, Bed Bath & Beyond became a staple for affordable home decor, kitchenware and college dorm room furniture. As of February 2022, Bed Bath & Beyond had 950 stores and 32,000 workers.

☆ Bed Bath & Beyond’s Potential Bankruptcy, Explained
▼ + stars: | 2023-01-13 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

How Prince Harry and Meghan Markle Make Their Money From deals with Netflix and Spotify to book advances and startup roles, Prince Harry and Meghan Markle have had to diversify their income streams since leaving the U.K. royal family in 2020. WSJ looks at how the Duke and Duchess of Sussex make their money and what some of it is being spent on. Photo: Andrew Kelly/Reuters

The unraveling of Bed Bath & Beyond Inc. could unlock one of the company’s strongest businesses: the Buybuy Baby chain of stores selling strollers, cribs and other infant gear. Bed Bath, which is preparing for a bankruptcy filing, has been in discussions with private-equity firm Sycamore Partners and another suitor about a deal to sell the baby chain as part of its chapter 11 restructuring, according to people familiar with the matter. The New York Times earlier reported on the discussions.

☆ Beyond Meat’s Chief Brand Officer Beth Moskowitz Leaves Company
▼ + stars: | 2023-01-12 | by ( Jesse Newman | ) www.wsj.com time to read: 1 min

Beyond Meat Inc. executive Beth Moskowitz , who led the plant-based burger maker’s branding efforts, is departing the company, according to internal company communications. Ms. Moskowitz’s departure is the latest shake-up to Beyond’s executive ranks and follows a tumultuous year for the faux meat pioneer, during which the company shed several other top executives and hundreds of employees as it took steps to stabilize its troubled business.

☆ 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.

☆ Premarket stocks: These three big unknowns will drive markets in 2023
▼ + stars: | 2023-01-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

And there are three big “ifs” that will determine the health of the economy: The strength of the labor market, the American consumer and the Federal Reserve. Will the labor market cool off? This is all happening as the Fed tries to actively cool the labor market. Policymakers fear that persistent wage growth in a tight labor market will keep already sky-high inflation levels elevated. Mortgage rates continue to soarMortgage rates rose again last week, beginning 2023 twice as high as they were a year ago.

☆ Bed Bath & Beyond has ‘substantial doubt’ it can stay in business
▼ + stars: | 2023-01-05 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Bed Bath & Beyond’s future is looking increasingly dire. The retailer said that there is “substantial doubt about the company’s ability to continue” because of its deepening financial turmoil. In the filing, CEO Sue Grove said that the announcement “underscores the importance of having initiated a turnaround,” which the company revealed last August. She was tapped as the company’s permanent CEO last October following an interim stint. Former CEO Mark Tritton left the company in June 2022 for failing to turn around the company.

☆ What’s gone wrong at Beyond Meat
▼ + stars: | 2022-12-07 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

And fierce competition is squeezing sales, including in frozen, plant-based chicken, a category that is growing while refrigerated plant-based meat sales falter. “We believe that healthy competition within plant-based meat is a good thing as it brings investment in marketing to the category,” said Brown during the November analyst call. It’s true that the plant-based meat pie is smaller these days. Ground plant-based meat fell about 19%, and patties were down 30% in that period. It launched a retooled version, Beyond Chicken Tenders, in stores in 2021, and has built its plant-based chicken portfolio since then.

☆ Late Bed Bath & Beyond CFO Dropped From Shareholder Suit
▼ + stars: | 2022-11-02 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +5 min

Gone are claims from the original 24-page complaint that Mr. Arnal and Mr. Cohen colluded to boost the company’s share price. Bed Bath & Beyond has said the lawsuit was without merit. Bed Bath & Beyond and Mr. Cohen, along with JP Morgan Securities LLC, are still named as defendants in the suit, which seeks class-action status. Bed Bath & Beyond shares traded around $4.05 on Wednesday, down more than 70% since the beginning of the year. Mr. Toll said he hadn’t heard from Bed Bath & Beyond or Mr. Arnal’s estate leading up to the filing of the amended complaint.

☆ Late Bed Bath & Beyond CFO Dropped From Suit Alleging Collusion With Ryan Cohen
▼ + stars: | 2022-11-02 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +5 min

“There’s plenty of grief in his family, and us making it even worse didn’t seem worth it,” Mr. Toll said. Gone are claims from the original 24-page complaint that Mr. Arnal and Mr. Cohen colluded to boost the company’s share price. Bed Bath & Beyond and Mr. Cohen, along with JP Morgan Securities LLC, are still named as defendants in the suit, which seeks class-action status. Mr. Cohen unloaded his entire stake in Bed Bath & Beyond in mid-August. Bed Bath & Beyond shares traded around $4.05 on Wednesday, down more than 70% since the beginning of the year.

☆ Bed Bath & Beyond’s CEO Sue Gove Hosts Suppliers in Plea for Support
▼ + stars: | 2022-10-27 | by ( Suzanne Kapner | ) www.wsj.com time to read: 1 min

On her first day as permanent chief executive of Bed Bath & Beyond Sue Gove made a plea to suppliers of the struggling home goods retailer: Stick with us. The company hosted roughly 500 suppliers virtually and at its Union, N.J., headquarters for a two-hour summit in which executives laid out their strategy for resuscitating the chain, which has been reeling from a failed overhaul under prior management that led to plunging sales, a cash crisis and a leadership vacuum. In September, its finance chief died by suicide.

☆ Bed Bath and Beyond names Sue Grove as its new CEO
▼ + stars: | 2022-10-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN Business —Bed Bath and Beyond has named a new CEO — and investors were selling the stock. The beleaguered retailer has tapped interim leader Sue Gove to the position permanently. It also revealed that sales at stores open for at least a year plunged 26% during its latest quarter ending August 27. Neil Saunders, managing director of GlobalData, said the appointment of Gove is a “sensible and pragmatic solution” because of her knowledge of the Bed Bath and Beyond brand. “In any case, it is our view that Bed Bath and Beyond would have difficulty in recruiting someone from the outside because of both the extreme challenges it faces and the lingering doubts about its long-term survival,” he added.

☆ Beyond Meat exec Doug Ramsey leaves company after arrest for allegedly biting man’s nose
▼ + stars: | 2022-10-14 | by ( Mike Calia | ) www.nbcnews.com time to read: +1 min

Beyond Meat’s operating chief, Doug Ramsey, left the company Friday, weeks after he was arrested for allegedly biting a man’s nose following a college football game in Arkansas. Police said Ramsey punched through the back windshield of a Subaru after it hit the front tire of Ramsey’s car, according to a police report. Ramsey then allegedly punched the Subaru driver and bit his nose, “ripping the flesh on the tip of the nose,” the report said. Police also said the victim and a witness also claimed Ramsey told the Subaru driver he would kill him. Beyond Meat said Jonathan Nelson, the company’s senior vice president of manufacturing operations, will permanently oversee Beyond’s operations activities.

☆ Beyond Meat executive who allegedly bit a man’s nose will leave the company
▼ + stars: | 2022-10-14 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNNBusiness —Beyond Meat Chief Operating Officer Doug Ramsey is leaving the company after his recent arrest for assault. Ramsey was arrested last month on on charges of “terroristic threatening” and third-degree battery after he allegedly bit a man’s nose following a Arkansas football game. In a SEC filing, the company announced Ramsey’s departure, noting Friday will be his last day of employment. Ramsey joined Beyond Meat in December last year, pivoting from a three-decade career at Tyson Foods (TSN). Beyond Meat had been a market leader in the plant-based meat space, alongside rival Impossible Foods.

☆ New & Notable: Latest releases from Google, Pyrex and more
▼ + stars: | 2022-10-08 | by ( Zoe Malin | Zoe Malin Is The Associate Updates Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +4 min

This story is part of Select's New & Notable column, where we highlight our favorite product launches, major sales, what we're buying and some of our latest recommendations and advice. This week, we’ve got Google’s new devices, meal prep containers from Pyrex, two new shoe styles from Rothy’s and more. Amazon’s Prime Early Access Sale is Oct. 11-12, Wayfair’s 5 Days of Deals runs through Oct. 11, Bed Bath & Beyond’s Beyond Big Sale is Oct. 11-16 and Walmart is offering rollbacks Oct. 10-13. Lululemon introduced Lululemon Studio, a new fitness service available exclusively on the Lululemon Studio Mirror, although the service also gives you access to an app after you purchase the Mirror. Additionally, if you’re a frequent Lululemon shopper, you can now join the brand’s membership program for free to unlock shopping perks, early access to product launches, access to select Lululemon Studio classes and more.

☆ Bed Bath & Beyond’s Losses Widen as Sales Drop 28%
▼ + stars: | 2022-09-29 | by ( Suzanne Kapner | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond reported another quarter of falling sales and widening losses, underscoring the challenges the home-goods retailer faces in turning itself around. Sales fell 28% to $1.44 billion for the three months ended Aug. 27, compared with $1.99 billion a year earlier. Same-store sales, which excludes newly opened or closed locations, declined 26%.

☆ Is Beyond Meat beyond saving?
▼ + stars: | 2022-09-28 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

Companies like Beyond Meat, rival Impossible and plant-based milk producer Oatly are still doing big deals with supermarket chains and restaurants to get their products on store shelves and menus. But in the company’s most recent earnings call, Beyond Meat CEO Ethan Brown conceded that the company (and the industry) faces challenges. Inflation is a problem for plant-based food biz too“We went from a pandemic into record inflation,” Brown said. “After years of growth, plant-based meat sales in the United States are stagnating,” said consulting firm Deloitte in a recent report. So there is nothing fake about Wall Street’s concerns regarding the big drop in demand for “fake” meat and milk.

☆ Beyond Meat executive arrested on suspicion of biting a man’s nose
▼ + stars: | 2022-09-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN Business —The chief operating officer of vegan food purveyor Beyond Meat was arrested over the weekend after allegedly biting a man’s nose during a fight following an Arkansas football game. Police arrested company COO Doug Ramsey on charges of terroristic threatening and third-degree battery on Saturday. Ramsey joined Beyond Meat in December last year, pivoting from a three-decade career at Tyson Foods. Beyond Meat had been a market leader in the plant-based meat space, alongside rival Impossible Foods. The price of Beyond’s “beef” sells for $8.35 a pound, compared with USDA ground beef, which sells for $4.90.

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