Bed bath and beyond business plan

On The Agenda
From: Ernesto T.
Added: 01.04.2021
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While the home-focused retailer lost money in its recently ended fiscal year, it has a new management team, and its financial results have already started to improve albeit modestly. Those factors have attracted plenty of risk-loving investors. Considering the long-term challenges the company faces, the stock could have more downside ahead. These results certainly weren't terrible. That said, total sales declined compared to the prior-year period, even after adjusting for the sale of several non-core retail brands over the past year.
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Bed Bath & Beyond unveils turnaround plan

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Bed Bath & Beyond closing stores, but has dramatic plans in Brick

The initial 63 stores represent the first round of store closures for the struggling retail brand, which will shut down about "redundant" stores over the next two years. The company announced plans to close stores in its first-quarter investor relations presentation in July. The company has also cut "expenses associated with the maintenance of stores. In a July earnings call with analysts, Chief Financial Officer and Treasurer Gustavo Arnal said the drop in sales occurred "primarily due to the temporary store closures. The retailer announced its plans to close 44 stores across eight states earlier this year.
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Bed Bath & Beyond overhauls strategy after closings, layoffs

They say that acknowledging your problems is the first step to recovery. Led by independent chairman Patrick Gaston and interim president Mary Winston , the meeting—which had always been a perfunctory event with little substance and less transparency under prior management—had a demeanor of candor, appreciation for the patience of investors and most important, recognition that the job ahead was a big one. Both in their prepared statements and in response to questions from shareholders and the press, the two repeatedly talked about the problems that exist and the work being done to address them. We have our problems but we can turn it around. Repeating what she had said on a previous conference call with analysts several weeks ago, she talked about the four big initiatives the company must focus on to turn its business around: driving top-line sales, resetting its cost structure, evaluating its multiple brand banners and physical stores, and reordering its priorities in merchandising, sourcing and operations.
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They do not have the drive to succeed or change processes to generate more profit, simply because they receive large salaries and benefits for doing merely what their contracts. As of its last Annual Report issued on August 31, Walgreens operated 7, locations with 6, drugstores, worksite facilities, 15 specialty pharmacies, home care facilities and 2 mail service facilities. The company is also the owner of 33 strip shopping malls Walgreen Co.
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