1 year ago
94 A pedestrian walks by a Bed Bath and Beyond store successful San Francisco, California.
Justin Sullivan | Getty Images
Shares of Bed Bath & Beyond were down successful premarket trading Tuesday aft the struggling retailer's main fiscal serviceman died implicit the weekend.
The banal was down much than 15% arsenic investors weighed the company's enactment situation aft Gustavo Arnal's death. Arnal died Friday aft falling from a gathering successful downtown Manhattan, constabulary said. The city's aesculapian examiner's bureau aboriginal ruled the decease a suicide.
The nonaccomplishment comes aft the institution precocious eliminated immoderate enforcement positions, including main operating officer, arsenic portion of its efforts to triumph backmost capitalist assurance and customers. It is besides looking for a imperishable CEO. Bed Bath & Beyond is operating nether an interim Chief Executive, Sue Gove, aft the company's erstwhile person Mark Tritton was ousted by the committee successful June.
The New Jersey-based institution past week announced that it had secured much than $500 cardinal successful caller financing, including a loan. It besides laid retired a series of moves aimed astatine reviving the business, including the closure of astir 150 stores, layoffs and an overhaul of its merchandise strategy.
Arnal joined Bed Bath & Beyond successful 2020 from London-based cosmetics institution Avon aft the commencement of the Covid-19 pandemic. He besides spent 20 years astatine Procter & Gamble.
In a connection Sunday regarding his death, Bed Bath & Beyond said that Arnal "was instrumental successful guiding the enactment passim the coronavirus pandemic."
If you are having suicidal thoughts, interaction the Suicide & Crisis Lifeline at 988 for enactment and assistance from a trained counselor.
— CNBC's Melissa Repko and MacKenzie Sigalos contributed to this report.
