Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Shares were nearly 4% higher in Thursday trading. Ongoing supply chain issues and inventory constraints cost the company about $100 million, Tritton said. Same-stores sales slipped slipped 7% with sales of $1.9 billion, a 30% decline compared to the same quarter a year ago. The retailer released earnings Thursday and missed analysts’ expectations. (TGT) three years ago and has led the company through a turnaround over the past few years as housebound shoppers increased their spending on kitchen and home essentials. Tritton joined Bed Bath & Beyond from Target (AMZN), which carry much of the same household basics that Bed Bath & Beyond The company has been hit with falling sales and declining foot traffic in recent years as shoppers defect to competitors, such as Target (BBBY) is in the midst of remodeling 450 stores, representing about half of its locations, at a cost of $250 million. The plans, which were announced two years ago, are part of Bed Bath & Beyond’s multi-year transformation that includes creating new, private labels, remodeling stores and focusing on e-commerce under CEO Mark Tritton.Īffected locations will be closed by the end of February and are currently having liquidation sales. Bed Bath & Beyond revealed the locations of 37 of the approximately 200 stores it plans close in the coming weeks.
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