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Business

Bed Bath and Beyond is trying to save itself from extinction




Not long ago, Bed Bath and Beyond was a place to look for home goods, but the problems in recent years have prompted investors to wonder if the retailer still has a future and what it will look like.

The company has recently been shaken up by a trio of activist investment groups, and has renewed its board and is looking for a new CEO. It also takes a number of steps to stabilize sales, cut costs, review the portfolio and cut the workforce.

The Investor Group, which consists of Legion Partners, Macellum Capital Management and Ancora Advisors, has stated that the company can right itself and restore value for shareholders with new leadership and by bringing the company in line with the best practices already seen in other more successful retailers.

The list is long, but suggested fixes include reducing clutter in Bed Bath and Beyond stores, which customers currently find confusing, messy and tough to shop. It also involves buying products directly from foreign manufacturers, rather than the US-based middlemen Bed Bath and Beyond sources most of the products from.

Bed Bath and Beyond still has a reason to exist, says many analysts who follow the company. But it still has a long way to go.

Over the past 1[ads1]2 months, the company's shares have fallen more than 50%. Things have not improved since the activists got involved. Shares fell from a closing price of $ 16.92 on March 26, when the Group announced its stake, to a closing price of $ 9.00 on August 1. Bed Bath and Beyond has a market share of $ 1.1 billion.



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