According to media sources, the chief financial officer of Bed Bath & Beyond Inc. died on Friday after falling from the 18th level of the “Jenga” tower in New York’s Tribeca neighbourhood.
A 52-year-old employee of Bed Bath & Beyond is Gustavo Arnal. According to his LinkedIn page, he formerly served as CFO for the cosmetics company Avon in London and spent 20 years at Procter & Gamble.
Around 1 p.m. ET (1700 GMT), police were summoned to 56 Leonard Street near Church Street, where they found an unnamed guy who had been declared dead on the scene, according to the New York Post.
Emails and phone calls seeking comment were not immediately answered by Bed Bath & Beyond or the New York Police Department. Arnal sold 55,013 shares of the company on August 16, according to calculations by Reuters based on SEC filings.
The big-box store, which was once dubbed a “category killer” for home and bath products, has seen its sales decline as a result of trying to promote more of its own brand, or private label, products.
Bed Bath & Beyond announced last week that it would shut down 150 shops, lay off staff, and change its merchandising plan in an effort to turn around its failing company.
Bed Bath & Beyond, which had put its buybuy Baby division up for sale, predicted a worse-than-anticipated 26% decline in same-store sales for the second quarter.