EUR/USD 1.17987
0.328%
Gold 4485.09
0.942%
Oil 57.994
0.162%
USD/JPY 155.955
-0.682%
GBP/USD 1.35068
0.334%
GBP/JPY 210.599
-0.367%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On December 23, Monex Europe analysts noted in a report that the pounds current rally may soon lose momentum due to persistent potential economic headwinds. With a lack of UK economic data and many market participants absent for the Christmas holidays, the pounds movements are more broadly driven by risk appetite. Looking further ahead, forecasts for 2026 include further policy easing by the Bank of England against the backdrop of a cooling UK economy, a factor that should limit the pounds gains in the new year.A Spanish government spokesperson said that the minimum pension will be increased by more than 7% next year.December 23 - According to Econostream, European Central Bank (ECB) Governing Council member Stournaras stated that the ECB is currently in a "good position," but must be prepared to adjust monetary policy settings in either direction as needed. "If the situation at the ECB is better or worse than expected, we will take appropriate action."The Bank of Spain expects fourth-quarter GDP growth to be 0.6%-0.7%, higher than the previous quarter; it also projects GDP growth of 2.9% for fiscal year 2025, higher than the previous forecast of 2.6%. Furthermore, it has revised its 2026 GDP growth forecast upward from 1.8% to 2.2%, and projects 2027 GDP growth of 1.9%, higher than the previous forecast of 1.7%.The Bank of Spain projects inflation at 2.7% in 2025 and 2.1% in 2026 (previously 1.7%). It has lowered its 2027 inflation forecast to 1.9%, from a previous estimate of 2.4%.

Sue Gove Will Become the Permanent CEO of Bed Bath & Beyond

Charlie Brooks

Oct 27, 2022 11:55

10.png


Wednesday, Bed Bath & Beyond Inc (NASDAQ:BBBY) announced that interim CEO Sue Gove would assume the role permanently.


Gove, previously chairman of the company's strategy committee and an independent director, was named interim CEO in June after Mark Tritton was fired in an attempt to reverse the company's commercial slide.


According to the company, the nomination was approved unanimously, and Gove will continue to serve on the board.


Once considered a "category killer" in home and bath goods, the big-box retailer's prospects have worsened due to unsuccessful attempts to sell more store-branded products and a management change.


Gove told Reuters that "regaining market share" is one of her long-term objectives as CEO.


Prior to this, activist investor and billionaire Ryan Cohen had criticized the company for its "overly ambitious" strategy, excessive CEO compensation, and inability to regain market share losses.


Cohen was the company's biggest investor until August, when he sold his 9.8% stake.


Bed Bath & Beyond said at the end of August that it will close 150 stores, decrease personnel, and alter its marketing approach in an attempt to bring its money-losing company around.


A small number of outlets have closed since August, and a bigger number will close "before the end of the year," according to Gove.


Last month, the firm reported a larger-than-expected loss for the second quarter, but said that there were early signs that its efforts to decrease excess inventory were yielding fruit and that it projected its cash flow to achieve parity in the fourth quarter.


Due to Gustavo Arnal's death in September, accounting manager Laura Crossen was named interim chief financial officer.

Suggestion