Bed Bath & Beyond CFO reportedly falls to death in New York

Gustavo Arnal, 52, joined the home goods brand in 2020

Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy. Reuters
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Bed Bath & Beyond's chief financial officer fell to his death from the 18th floor of New York's Tribeca skyscraper, known as the “Jenga” tower, on Friday afternoon, according to media reports.

Gustavo Arnal, 52, joined Bed Bath & Beyond in 2020. He previously worked as the chief financial officer for cosmetics brand Avon in London and had a 20-year stint with Procter & Gamble, according to his LinkedIn profile.

Police were called to 56 Leonard Street near Church Street around 1pm eastern time, where an unidentified man was pronounced dead at the scene, according to the New York Post.

Bed Bath and Beyond and the New York Police Department did not immediately respond to emails and calls for comment.

On August 16, Mr Arnal sold 55,013 shares in the company, Reuters calculations showed, based on US Securities and Exchange Commission filings.

The big-box chain — once considered a market leader in home and bath goods — has seen its fortunes falter after an attempt to sell more of its own brand, or private label, goods.

Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.

Bed Bath & Beyond forecast a bigger-than-expected 26 per cent slump in same-store sales for the second quarter and said it would retain its buybuy Baby business, which it had put up for sale.

Updated: September 04, 2022, 3:43 PM
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