Sue Gove, director and interim chief executive officer said: “We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns.”
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A top Bed Bath & Beyond executive died after jumping to his death from a well-known New York City tower.
Police sources report that on Friday, 52-year-old Gustavo Anral leaped from the 18th floor of the “Jenga Building” at 56 Leonard Street.
Anral joined the struggling home goods firm in 2020 and served as both the executive vice president and chief financial officer.
Formerly based in London, he served as chief financial officer for the well-known cosmetics company Avon.
The executive also worked for Procter & Gamble for 20 years abroad, according to the New York Post.
According to MarketBeat.com, Arnal sold 42,513 shares of Bed Bath & Beyond stock for more than $1 million last month.
According to InsiderTrades.com, he received stock awards totaling the remaining $2.9 million from Bed Bath & Beyond last year, with a salary of $775,000 being the majority of that sum.
The 57-story “Jenga Building” is renowned for its opulence, featuring three terraces, a chef’s kitchen, white oak and stone floors, and 19-foot ceilings.
The 1,252 square foot, expansive skyscraper offers views of the downtown skyline.
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The highest structure in Tribeca, it was finished in 2017.
After Bath & Beyond announced intentions to liquidate 150 stores and lay off staff in an effort to turn around the faltering company, he passed away.
Twenty percent of the workforce throughout corporate and its supply chain will be impacted by the change, along with “lower-producing” outlets.
Bed Bath & Beyond recently indicated it hoped this decision would result in savings of around $250 million during an investor call.
It follows a quarter-ago sales decline of roughly 25%.
Some of its failing flagship stores across the US will be impacted by the layoffs and store closings.
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