GameStop chairman takes stake in Bed Bath & Beyond, pushes for change -WSJ

An exterior view shows a Bed Bath & Beyond store in Novi, Michigan, U.S., January 29, 2021. REUTERS/Emily Elconin

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March 6 (Reuters) – Ryan Cohen, co-founder of online pet products retailer Chewy Inc (CHWY.N), has a large stake in Bed Bath & Beyond Inc (BBBY.O) and is pushing the housewares retailer to streamline strategy and explore strategic alternatives, the Wall Street Journal reported on Sunday.

Cohen, who also serves as chairman of videogame retailer GameStop Corp (GME.N), owns 9.8% of Bed Bath & Beyond through his investment firm, RC Ventures LLC, the WSJ reported, citing a copy of a letter sent to the housewares retailer’s board.

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Reporting by Akanksha Khushi in Bengaluru; Editing by Christopher Cushing

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