The CFO of Bed Bath & Beyond died over the weekend after police said he had fallen to his death.
Bed Bath & Beyond said it was profoundly sad by the loss.
The "Jenga Tower" or the "Jenga Building" has more than 50 floors of apartments.
The victim was declared dead on the scene by Emergency Medical Services, according to the office of the deputy commissioner of the NYPD. The cause of death will be determined by the medical examiner. The investigation continues at this time.
A Securities and Exchange Commission filing shows that he made over one million dollars selling shares in Bed Bath in August. The document shows that as of the filing, Arnal still had over two million shares.
Bed Bath's stock is down from its all time high.
After the company announced plans to close 150 stores of its "lower producing" namesake stores, the man who spent 20 years at P&G passed away. The New Jersey-based retailer said it would be cutting 20% of its staff and that it had secured more than $500 million in new financing.
Bed Bath's core business is struggling as a result of the cost-cutting measures. Same-store sales were down 26% for the three-month period ended August 27 compared to the previous quarter.
The plan announced Wednesday won't be enough to save Bed Bath's business. Raymond James said that the cost cuts and new financing only kick the can down the road.
If you're having suicidal thoughts, you can get help from a trained counselor.
The story is evolving. You can check back for the latest news.
All Rights Reserved © 2024
