Why Bed Bath & Beyond Stock Is Trading Down

Bed Bath & Beyond Inc BBBY shares are trading lower Tuesday following the passing of CFO Gustavo Arnal over the weekend.

Police said Arnal died after falling from a building in downtown Manhattan. The city’s medical examiner later ruled the death a suicide.

Arnal joined Bed Bath & Beyond in May 2020 following a distinguished global career in finance at Avon, Walgreens and Procter & Gamble.

Bed Bath & Beyond said Arnal was "instrumental in guiding the organization throughout the coronavirus pandemic, transforming the company's financial foundation and building a strong and talented team."

Related Link: Bed Bath & Beyond CFO Gustavo Arnal Falls To Death From Jenga Building In NYC

Arnal's death comes just months after CEO Mark Tritton and chief merchandising officer Joe Hartsig stepped down from their roles at the struggling home furnishings retailer. Bed Bath & Beyond also announced strategic changes to strengthen its financial positioning last week. 

BBBY Price Action: Bed Bath & Beyond has a 52-week high of $30.06 and a 52-week low of $4.38.

The stock was down 15.4% at $7.31 at time of publication.

Photo: Mike Mozart from Flickr.