Bed Bath & Beyond gets $120 million lifeline to help it stock near-empty shelves | CNN Business

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. “Although we moved quickly and effectively to change the assortment and other merchandising and marketing strategies, inventory was constrained and we did not achieve our goals,” CEO Sue Gove said in a statement in January.

That is one of the reasons it’s difficult for a retailer to pull out of a downward spiral, as they compete with rivals that are not having to pay cash up front. “The support we are seeing from our top supplier partners demonstrates the staying power of our brands and our potential for sustainable improvement,” Gove said in her statement. “We know the performance and value of our business today is not representative of our full potential.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bed Bath & Beyond's business model: Treat workers as worthless merch | EditorialThere are 1,300 new job-seekers today, and they're under the gun Bad behaviors emerge when a company/ organization get very large. Rewarding executives for layoffs seems like one of them. This is a typical modern retail Business model. Lowe’s fired all their professionals years ago on minor infractions. Replaced everyone with part timers who know nothing. Retail employees have been treated like garbage now for about 25 years. 'The law to mandate severance signed by Gov. Murphy in 2020 was the first of its kind in the nation.' Another Phail first. Did they do this at Goldman Sachs?
Source: njdotcom - 🏆 282. / 63 Read more »