Bed Bath & Beyond names new chief accounting officer in latest executive change as sales plunge

Bed Bath & Beyond on Thursday named a new chief accounting officer, marking another leadership change as the retailer struggles with plunging sales. The company said Laura Crossen will take over as the senior vice president of finance and chief accounting officer, replacing John Barresi, who resigned earlier this month after stepping into the role in May of last year. Crossen has been with the company since 2001, most recently as senior vice president of treasury, tax and finance transformation. The change comes a day after Bed Bath said it…

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Inflation is making Fourth of July celebrations more expensive than ever

Fotografia Inc. | E+ | Getty Images Nothing says Independence Day like a good, old-fashioned barbecue. In keeping with tradition, most Americans — roughly 60% — plan to grill this weekend, and 53% will get together with friends and family, according to a recent report by market research firm Numerator. “Consumers want to celebrate this summer for a number of reasons, and food is central to that,” said Karol Aure-Flynn, a food and agribusiness analyst and author of Wells Fargo’s July Fourth food inflation report. More from Personal Finance:Here are 3…

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Walgreens quarterly sales, profit beat expectations as chain grows online sales

The Walgreens store at State and Randolph Streets in Chicago. Nancy Stone | Chicago Tribune | Tribune News Service via Getty Images Walgreens Boots Alliance on Thursday reported quarterly sales and earnings that came in above expectations as it grew online sales and continued to administer Covid-19 vaccines. The drugstore chain stood by its outlook for the full year, saying it expects adjusted earnings per share to grow by the low single-digits. Shares of the company were down by about 2% in premarket trading. Here’s what the company reported compared…

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RH shares slide after company lowers its outlook for the year

Jason Kempin | Getty Images Entertainment | Getty Images High-end furniture chain RH on Wednesday slashed its outlook for 2022 revenue, anticipating consumer demand for its products will continue to soften in the back half of the year. The company now sees annual sales down between 2% and 5%, compared with prior expectations that saw sales flat to up 2%. It said it still anticipates revenue in its fiscal second quarter to be down between 1% and 3% from prior-year levels. RH shares fell nearly 8% in after-hours trading following…

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Unilever reaches deal to keep selling Ben & Jerry’s ice cream in Israel

Consumer products giant Unilever said it reached a deal that will let its Ben & Jerry’s ice cream continue selling in Israel. The company said Wednesday that it sold the Israeli branch of the ice cream brand for an undisclosed sum to Avi Zinger, whose American Quality Products already licenses Ben & Jerry’s ice cream for sale in the country. The move by Unilever comes after Ben & Jerry’s, which has an independent board, said last summer that it was stopping sales in the territory that has been occupied by…

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Bed Bath & Beyond says it’s still open to selling its Buybuy Baby division

A view of the atmosphere during the Whitney Port & Bundle Organics #MomAsYouAre buybuyBABY product launch in Torrance, California. Randy Shropshire | Getty Images As Bed Bath & Beyond shakes up its leadership suite and ousts its CEO, the retailer said Wednesday it remains open to another big change: A potential sale of its baby gear chain, Buybuy Baby. “The business is a very attractive business, and we’re not alone in appreciating its value,” interim CEO Sue Gove said on a call with analysts when asked if a sale was…

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Buy now, pay later refunds can be tricky: ‘The process isn’t quite down to a science,’ says chief credit analyst

Some shoppers say “buy now, pay later” may not be all it’s cracked up to be. After experiencing explosive growth during the pandemic — spending on BNPL in the U.S. soared 230% since the start of 2020 — the hype around installment buying is fading as costs for everyday items rise and consumers dial back on discretionary purchases. Although 45 million shoppers embraced installment purchases last year alone, some have a case of buyer’s remorse, especially if they’ve shelled out more than they can afford or are struggling to keep…

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Bed Bath & Beyond announces CEO is leaving, as it sharply misses quarterly expectations

A pedestrian walks by a Bed Bath and Beyond store in San Francisco, California. Justin Sullivan | Getty Images Bed Bath & Beyond on Wednesday said it is replacing CEO Mark Tritton as part of a leadership shakeup, after the home goods retailer sharply missed Wall Street’s expectations on quarterly earnings and revenue. Shares fell about 13% in premarket trading. The company’s board said Sue Gove, an independent director on the board, will step in as interim chief executive. “We must deliver improved results,” she said in a news release.…

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CVS removes purchase limit on Plan B pills, says sales have ‘returned to normal’

Plan B One-step birth control in CVS Pharmacy, Boston, MA. Ucg | Universal Images Group | Getty Images CVS is removing the purchase limit it had put on emergency contraceptive pills following last week’s Supreme Court ruling, the chain said Tuesday. The reversal comes as sales have dipped back to normal levels and will be made both in stores and online over the next 24 hours, CVS said. The limit on the emergency contraceptives, commonly known as morning after pills and sold under names including Plan B, had gone into…

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Target will cover employees’ travel to other states for abortions, company memo says

A person walks into a Target store in Washington, DC, on May 18, 2022. Stefani Reynolds | AFP | Getty Images Target will cover employees’ travel if they live in a state where abortion is banned, according to a company memo obtained by CNBC. The new policy will take effect in July, according to the email, which was sent to employees Monday from Target’s Chief Human Resources Officer Melissa Kremer. “For years, our healthcare benefits have included some financial support for travel, when team members needed select healthcare procedures that…

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