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Closures, banner divestitures send Bed Bath & Beyond net sales down 16% in Q4
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Operator
Welcome to Bed Bath & Beyond s fiscal 2020 fourth-quarter earnings call. [Operator instructions] Today s conference call is being recorded. A rebroadcast of the conference call will be available via webcast found on the company s investor relations website. At this time, I would now like to turn the conference over to Janet Barth, vice president of investor relations.
Please go ahead.
Investor Relations
Thank you, and good morning, everyone. Welcome to our fiscal 2020 fourth-quarter earnings call. On the call with us today is president and CEO, Mark Tritton; chief merchandising officer and president of Harmon Face Values, Joe Hartsig, chief operating officer and president of buybuy BABY, John Hartmann; and chief financial officer and treasurer, Gustavo Arnal. Before we begin, let me remind you that our fiscal 2020 fourth-quarter earnings release and slide presentation can be found in the investor relations section of our website at www.bedbathandbeyond.com and as exhibit
Bed Bath & Beyond Inc Reports Fiscal 2020 Fourth Quarter & Full Year Results
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IKEA. Its management also failed to stop the bleeding as it faced accusations of nepotism and self-enrichment.
But in 2019, activist investors ousted CEO Steven Temares and replaced him with Mark Tritton, Target s former chief merchandising officer. Tritton replaced most of the company s C-suite, divested its real estate and non-core banners, and launched fresh plans to renovate its stores, improve its supply chain, and expand its e-commerce ecosystem.
Image source: Getty Images.
But the pandemic abruptly disrupted those plans, and Bed Bath & Beyond s stock sank to a 25-year low during the COVID-19 crash last March. Yet it subsequently rebounded and skyrocketed to a five-year high of nearly $53 in late January amid the Reddit-fueled short squeeze.