They should file chapter 11, regroup and figure out how to proceed. Open up an investigation on MT, GM, GA, JH and the rest of that shady group. Too much money disappear rather quickly while there bozos were in charge.
Criminal investigation and charges filed against this group.
It’s almost too late but as long as we are still breathing and selling WR+ we still have a hope.
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All of the above comments have merit. Not only at Bed Bath and Beyond but ALL retailers.
Figures don't lie but liars can figure. When mistakes are made and the economy is solid we all get by. When the economy is weak...issues come to light. Then the finger pointing starts. The bottom line: "Its the economy stupid". Remember that quote from a few years ago? The people, not the well to do, yet anyway, are being squeezed. They are making up a larger portion of our consumers everyday...remember that. Rent, mortgage, health insurance, energy, food etc take priority over beautiful curtains, bed spreads, etc. People are still spending what they don't have. Like the federal government. We are not hurting enough yet. More to come. Who will we blame for this? God bless all employees who lost their jobs.
We have not given enough scrutiny to the stock buy backs done by previous BBBY boards and such. This IS manipulation of the stock when this happens. I now know I am not the only one seeing this as they had an article on Yahoo about the old regime spending money on buybacks to "boost the shareholder value", while letting the stores suffer with 80s technology. One wonders if this place was artificially priced all along.
I am sure they took their shares with them when they left and cashed out handsomely.
I am just saying it is their fault as well. When the store needed new equipment and infrastructure, they were busy buying back some of the stock with their profits. Until the profits ran out.
Corporate was always for lining its pockets and now the meme people are doing it at your expense as well. And shoving it in your face, as they are wont to do. It is all pathetic.
Exactly what I meant, happy someone else seen the hot mess
"The remodels and graphics MT implemented were cheap and gaudy. Dollar stores had more appeal!"......Wait, you mean 2 different shades of aqua, one shade of greenish turquoise, and medium blue banners all throughout the store isn't cutting edge design? NONE of these colors go together, and still amazes me that this "look" HAD to be approved by multiple levels. SMH.
All along corporate was doing stock buybacks to artificially increase the value! Too much money spent on that and too little in infrastructure!
The remodels and graphics MT implemented were cheap and gaudy. Dollar stores had more appeal!
Money went to remodels that didnt bring more traffic
Internal audits and investigations should’ve been done for years now. The monies are long gone
There is no hope.
Chapter 11 needs to be approved by a judge. Once he sees money owed to money needed to survive he will demand a revert to Chapter 7.
MT is laughing every walking to the bank.
Use spell check