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JPMorgan Chase CEO Jamie Dimon says banks will be there for customers in good times and bad.

Bed Bath & Beyond reported a loss in the third quarter on Tuesday but made no mention of shutting down the business, following a week of rumors swirling around a possible bankruptcy.

Net sales of $1.259 billion slipped 33%, primarily driven by a comparable sales decline of 32% and a 70% drop in customer traffic.Ticker Security Last Change Change % BBBY BED BATH & BEYOND INC. 1.93 +0.31 +19.14%

US AND JAPAN FORM TASK FORCE TO PROMOTE HUMAN RIGHTS IN SUPPLY CHAINS

As part of the new plan, the retailer will close 150 of its locations by the end of fiscal 2022 and has also initiated incremental cost reductions of approximately $80 million to $100 million, including overhead expense and headcount. The company is now on track to deliver roughly $500 million in yearly savings. 

Bed Bath & Beyond .

The stock has lost 90% of its value over the past 12 months and is trading in the $1 range. 

Amid plummeting sales and decreased customer traffic, Bed Bath and Beyond will close 150 stores by the end of fiscal 2022.

Sue Gove, president and CEO of Bed Bath & Beyond, said in the release the retailer implemented a turnaround plan at the beginning of the third quarter, "following a period when our merchandise and strategy had veered away."

SMALL BUSINESS OPTIMISM DIPPED IN DECEMBER: NFIB

"Although we moved quickly and effectively to change the assortment and other merchandising and marketing strategies, inventory was constrained and we did not achieve our goals," she continued. "We will continue to rebalance our assortment toward national brands and refine our owned brands mix to reflect the deep understanding of our customer."

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"We are implementing our plan expeditiously while managing our financial position in a changing landscape," she added.

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Sources: DFA’d by Nats, Lowe set to join Red Sox

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Sources: DFA'd by Nats, Lowe set to join Red Sox

First baseman Nathaniel Lowe and the Boston Red Sox are finalizing a deal, sources told ESPN, paving the way for him to join one of the strongest lineups in baseball.

The deal, which will be for a prorated portion of the major league minimum after Lowe was designated for assignment by Washington earlier this month and went unclaimed on waivers, adds a veteran bat to a first-base mix that has been uncertain since Triston Casas‘ season-ending knee injury in May.

Lowe, 30, had been a consistent presence for the Texas Rangers for the past four seasons, including their World Series championship run in 2023. But after an offseason trade to the Nationals, Lowe posted career lows in batting average, on-base percentage and slugging percentage.

Nevertheless, Boston was thrilled to bring him in, hopeful he can find a resurgence at Fenway Park, where he could fit nicely on the left side of a platoon. Lowe has hit 14 home runs in 337 plate appearances against right-handed pitching this season, posting an OPS+ 20% better than league average.

The Red Sox have split time at first between veterans Abraham Toro against right-handed starters and Romy Gonzalez against left-handers. In 109 plate appearances against lefties, Gonzalez is punishing them, hitting .354/.404/.667. After a strong start to the season, Toro’s performance has faltered over the past five weeks, leaving a potential opportunity for Lowe.

Despite the questions at first, Boston ranks fourth in runs scored in the major leagues with 626 in 125 games, just 14 behind the big league-leading Los Angeles Dodgers. The Red Sox have got potential fortification waiting at Triple-A as well, with rookie Kristian Campbell righting his swing, Vaughn Grissom still playing well enough for an opportunity and top prospect Jhostynxon Garcia slugging 17 home runs in 65 games.

With Lowe going unclaimed on waivers, the Nationals will owe him most of the remainder of his $10.3 million salary. Lowe will be arbitration-eligible next offseason, offering the possibility Boston could bring him back in 2026.

At 68-57 this season, the Red Sox are tied with the Seattle Mariners for the top wild-card spot, a half-game ahead of the New York Yankees. The next-closest team in the AL wild-card race is Cleveland, which is 3½ games behind New York.

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M’s Robles ejected for throwing bat at AAA pitcher

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M's Robles ejected for throwing bat at AAA pitcher

LAS VEGAS — Seattle Mariners outfielder Victor Robles was ejected from a minor league game during a rehab assignment with Triple-A Tacoma on Sunday after he was nearly hit by an inside pitch and tossed his bat at the pitcher.

Las Vegas starter Joey Estes’ first pitch to Robles in the third inning was inside and Robles whacked at it to avoid getting hit. After taking a few steps behind the plate and dropping his bat, Robles picked up the bat and threw it in Estes’ direction and was immediately ejected from the game by plate umpire Joe McCarthy.

Robles, who was hit by a pitch three times in his previous four games with Tacoma, took some steps toward the mound while yelling at the pitcher but was held back by McCarthy and Las Vegas teammates.

After going into the dugout, Robles threw a box of snacks toward the field before heading to the clubhouse.

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Thailand plans to launch crypto payment sandbox for tourists

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Thailand plans to launch crypto payment sandbox for tourists

Thailand plans to launch crypto payment sandbox for tourists

The Thai government is reportedly set to allow tourists to exchange crypto for Thai baht and make electronic payments through e-money service providers.

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