Bed, Bath & Beyond Inc.
In Brief
Macellum’s campaign resulted in the addition of 4 of 13 directors. Also, as a byproduct of the pressure applied during the campaign, the company sold non-core assets equal to approximately 75% of the market capitalization. Macellum’s price objective were met and we exited the position at the beginning of 2021. Subsequently, a fractured board and new CEO were unable to oversee and execute the turnaround plan Macellum outlined during our campaign and results deteriorated.
Activist Materials
- May 02, 2019: Investor Group Responds to Bed Bath & Beyond’s Repeated Misleading Claims
- Apr 26, 2019: Investor Group Issues Detailed Strategic Plan for Bed Bath & Beyond
- Apr 26, 2019: Investor Group Presentation
- Apr 22, 2019: Investor Group Comments on Bed Bath & Beyond Board Changes
- Apr 10, 2019: Investor Group Comments on Bed Bath & Beyond Q4 Earnings
- Apr 09, 2019: Investor Group Calls for Increased Transparency at Bed Bath & Beyond at Q4 Earnings Call
- Mar 26, 2019: Investor Group Nominates Sixteen Highly-Qualified Independent Candidates for Election to Bed Bath & Beyond Board