Last month, Bed Bath & Beyond announced it would close 150 of its roughly 1,000 stores in a move designed to cut costs and free up cash.
from a luxury skyscraper in downtown Manhattan. The New York City medical examiner's office ruled his death a suicide.
In the meantime, Bed Bath & Beyond is focusing on shoring up its financials, with GlobalData analyst Neil Saunders describing them as"in a parlous state." "The past few years of poor strategy have caused severe financial pain, and the scars will be borne in around 150 store closures and a curtailment of refurbishment programs," he said in a recent research note about the closures."These actions are necessary, but they underline that before the group can advance it will need to take several steps back."
Analysts at Wedbush Securities said one way the retailer can generate more cash is to sell off its baby clothing division Buy Buy Baby, which could bring in between $630 million and $910 million. "Selling Baby might buy the company enough time to right its ship and ease vendor concerns, but it does not fundamentally change the negative outlook for the core business, which is burning cash and losing resonance with customers," Wedbush said in a recent note.
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