![]() Bed Bath & Beyond CEO Mark Tritton, who was previously Target’s chief merchant officer, instituted a massive turnaround plan when he took the reins in the fall of 2019, which included plans to close stores, clean out the C-suite and remodel about 450 stores to make shopping in-store less chaotic. The BofA analysts expect Bed Bath & Beyond’s management will soon announce more store closures and halt openings of its Buy Buy Baby stores.īut it’s not all grim. Key quote: “The company has been underperforming the industry and we think consensus estimates may be optimistic,” the analysts wrote.Bank of America analysts expect that sales will drop another 20% in the past three months. Plus: It’s not as if investors have forgotten about the last earnings report, when sales fell 22% from the previous year.Foot traffic is down as much as 30% from a year ago, even as competitors such as Walmart and Target have held steady.Customer rewards programs have been reduced or replaced.Remodeling projects have been canceled.Labor hours and store operating hours have been scaled back, the analysts say. ![]() Analysts there have been dropping in on stores to get a read on what’s happening on the ground. (A rep told my colleague Nicole Goodkind that no stores were “directed to adjust their air conditioning and there have been no corporate policy changes in regard to utilities usage.”) Here’s the thing: A new report from Bank of America says some stores have cut their air conditioning and other utilities to quickly lower expenses and make up for a slump in sales - an accusation BBBY HQ denied. And later, as you sipped a homemade cappuccino from your comically oversized porcelain mug - all courtesy of the BBBY - you’d remember you never actually got those sheets.īut these days, the store is something of a hot mess, literally, and that’s got analysts and investors nervous ahead of BBBY’s earnings report tomorrow. You walked in for new set of sheets and walked out with a closet organizer, an As Seen On TV abdominal roller and a 12-pack of clear glass food storage containers that were going to FINALLY level up your fridge game. To get it in your inbox, sign up for free, here.īed Bath and Beyond has always been a bit of a mess, and that was the point. Editor’s Note: This story is part of CNN Business’ Nightcap newsletter.
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Nearly everything we know about insect responses to human activities comes from survey data collected by national schemes like the UK Butterfly Monitoring Scheme (UKBMS), which was launched in 1976. Natural history collections’ pinned insect specimens have revealed fascinating changes over the last centuries but have rarely been used to map how, and why, some species increase while other decrease. ‘At first glance, my results suggested that British insects fared pretty well, but I quickly realised there is much more to this than meets the eye.’īlame eccentric Victorians or lazy statisticians? A graph showing rates of butterfly distribution change over the last century From wasps to butterflies, Galina is looking for answers in the Museum’s pinned insect collection and extending time series to span the period of accelerating human pressures like agricultural intensification and deforestation. Insects are declining at alarming rates, but we do not precisely know why. This blog looks at just one of the studies using Museum data, PhD candidate Galina Jönsson’s research using data to examine how human activity has impacted butterfly populations over the 20 th Century. Since 2015, more than 1000 research papers have cited data from the Data portal and partner platforms like the Global Biodiversity Information Facility (GBIF), covering topics including agriculture, biodiversity, evolution, ecology, species distributions and human health. Museum collections include specimens collected over the last 200 years, a critical time period, during which humans have had a major impact on the distribution of biodiversity. The Museum’s Data Portal was launched in December 2014 to provide access to Museum collections and research, enabling to explore, download and re-use these data for their own purposes. 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