The Ssense founders have finalized the deal to buy the business out of bankruptcy and restructure its operations, winning out over a group of lenders who had been lobbying for a liquidation. In mid-January, a Canadian court notified Ernst & Young, the business’s monitor, that the bid submitted by the founders, brothers Rami Atallah, Bassel Atallah and Firas Atallah, together with their strategic partner, a leading Canadian multifamily office, had been accepted. The deal closed on Feb. 13. More from WWD ...

Core Viewpoint - Bed Bath & Beyond, Inc. has approved inducement awards for two new executives as part of its strategy to attract talent and enhance its leadership team [1][2]. Group 1: Inducement Awards - Glen Cary, Chief Stores Officer, received restricted stock units (RSUs) for 85,827 shares and performance stock units (PSUs) for 57,218 shares, effective December 8, 2025 [2]. - Nora Gomez, Chief Merchandising Officer, was granted RSUs for 81,385 shares and PSUs for 54,257 shares, also effective December 8, 2025 [2]. - The awards were made in accordance with New York Stock Exchange Rule 303A.08 as a material inducement for the commencement of employment [2]. Group 2: Vesting and Performance Conditions - The RSUs and PSUs are part of the Company's 2025 Employment Inducement Equity Incentive Plan and will vest annually in three equal installments [3]. - Vesting is contingent upon continued employment through each vesting date and, for PSUs, the achievement of applicable performance targets [3]. Group 3: Company Overview - Bed Bath & Beyond, Inc. is an ecommerce-focused retailer based in Murray, Utah, owning brands such as Bed Bath & Beyond, Overstock, buybuy BABY, and Kirkland's Home [4]. - The Company offers a wide range of products and services aimed at enhancing everyday life through quality, style, and value [4]. - Bed Bath & Beyond also has a blockchain asset portfolio that includes tZERO and GrainChain, among other assets [4].

Core Thesis - Wayfair Inc. has transitioned from a volatile e-commerce recovery story to a structurally profitable, technology-driven retail operator, achieving meaningful operating discipline and sustainable free cash flow [2][4]. Financial Performance - In Q3 2025, Wayfair reported revenue of $3.12 billion, an increase of 8.1% year-over-year, with adjusted EBITDA reaching $208 million, marking the highest margin since before the pandemic [2][3]. - Free cash flow turned positive at $93 million, supported by a robust liquidity position of $1.7 billion, indicating a shift from cash burn to cash generation [3]. Strategic Focus - The company's strategy emphasizes technology-led growth, particularly through its AI engine "Muse," which enhances user engagement, conversion, and advertising efficiency [3]. - Wayfair is focusing on high-value segments such as Wayfair Professional (B2B) and Perigold (luxury), which has increased the average order value to $317 and repeat purchase rates above 80% [3]. Future Projections - Analysts project mid-single-digit revenue growth through 2026, with EBITDA margins approaching 7% by 2027, potentially translating to approximately $1 billion in adjusted EBITDA and consistent free cash flow [3]. - The bull case anticipates stronger housing and operational leverage pushing EBITDA to $1.2 billion and shares to $185, while base and bear scenarios imply share prices of $130 and $95, respectively [4]. Market Position - Wayfair has matured into a disciplined, data-driven retailer positioned for steady compounding, with current volatility reflecting earnings sensitivity rather than existential risk, indicating a marked evolution toward sustainable profitability [4].