The retailer said it secured a commitment of roughly $240 million in financing from Sixth Street Specialty Lending, Inc. to allow it to keep operating during the bankruptcy process. Check your email for future offers and promotions. In a Wednesday announcement, the New Jersey-based company vowed to slash its workforce by 20% and close about 150 stores . Its financial performance has also deteriorated. The WFM system comes fully equipped with mobile capabilities that benefit the entire team. The company is expecting an infusion of outside financing from J.P. Morgan and the investment firm Sixth Street Partners. "It's an institution in retailing, but unfortunately being an institution doesn't protect you from financial woes.". At Bed Bath & Beyond, CEO Sue Gove is eligible for $7.1 million in severance pay and former Bed Bath & Beyond CEO Mark Tritton is suing the company for $6.8 million in unpaid severance. It also lined up more than $500 million of new financing. The company announced last August it would close about 150 of its namesake stores and slash its workforce by 20%. Bed Bath & Beyond store locations in Greater Cincinnati, Northern Kentucky. The company also said in a Securities and Exchange Commission filing in late March that it planned to sell $300 million worth of shares to avoid bankruptcy filing. The company had 32,000 employees as of Feb. 26, 2022, but that number has come down since then as the retailer has slashed jobs. The company also said in a Securities and Exchange Commission filing in late March that it planned to sell $300 million worth of shares to avoid bankruptcy filing. More than 1,500. Shop for the force at Bed Bath & Beyond. Both managers and associates now have the tools to achieve success without being tied down to a PC. 1:02. The Bed Bath & Beyond bankruptcy comes as no surprise. Bed Bath & Beyond joins a growing list of retailers that have filed for bankruptcy so far this year including party supplies chainParty CityandDavids Bridal. Based on our most recent analysis, JDA Workforce Management pricing and cost details are described here: JDA serves more than 4,000 clients worldwide, specializing in retail, manufacturing and logistics. In late March, it noted that preliminary results showed anywhere from a 40% to 50% decline in sales at stores opened at least a year for the quarter ended Feb. 25. Bed Bath & Beyond one of the original big box retailers has filed for Chapter 11 bankruptcy protection, following years of dismal sales and losses and numerous failed turnaround plans. The Centre is part of a particularly dynamic ecosystem, within the second French . Last Updated: 2021-10-06 10:20:23 . 6142 Wilmington Pike, Dayton, OH 45459. It's able to assist with labor planning, budgeting, scheduling and task management along with a variety of other vital tasks. You have to download the Blue Yonder workforce app and type bbb to register then sign in like your signing into the force michaeloptv88 2 yr. ago I will await confirmation. The filing comes as the company's shares have tumbled even more as speculation of an impending bankruptcy filing increased. It also lined up more than $500 million of new financing. Bed Bath and Beyond: Reporting State: New York: Local Workforce Zone: New York City Region: Notice Date: April 24, 2023: Related Document. Shop online at Bed Bath & Beyond to find just the jda you are looking for! It made a monstrous run from $5.77 to $23.08 in a little more than two weeks in August. Job Description. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Bed Bath & Beyond announced Sunday that it hasfiled for bankruptcy protection and will begin closing its retail stores, nine of which are in the Bay Area. Take advantage of all the support services we have to offer by registering today. "At Target, there are a lot of consumables and other things [customers] went to the store for, and they came to like and enjoy the private label brands they saw," Basham said. Fee: Free | Sign-Up Incentive: $5 in rewards and 7 days of free shipping | Key Benefits: Earn 10 points for every dollar you spend . It was among the first to introduce shoppers to many of today's household items like the air fryer or single-serve coffee maker, and its 15% to 20% coupons were ubiquitous. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Both managers and associates now have the tools to achieve success without being tied down to a PC. The bankruptcy could offer a window of whats to come in the retail industry, given the changing landscape and the increasing challenges in the U.S. economy. File name: warn-bed-bath-beyond-nyc-2022-0155-4-26-2023.pdf. Posted 9:44:41 AM. {{^isModal}}Check your email for future offers and promotions. In late 2019, Bed Bath & Beyond tapped Target executive Mark Tritton to take the helm and turn around sales. JDA Workforce Management helps users to strategically plan how to best utilize team members based on their strengths and weaknesses. The store closings will put thousands of jobs at risk. Launch the BY WFM app again Updated on Apr 10, 2023. Gustavo Arnal, who served as Bed Bath & Beyond's CFO from 2020 until his death in 2022, served in executive roles at Cincinnati-based Procter & Gamble Co. from 1993 to 2017. 3 warning signs about the economy coming out of America's top companies. But the company has had a hard time having suppliers commit to delivering merchandise because of the retailers financial woes. Visit Lyon. Georgia Bed Bath and Beyond store closings Atlanta: 130 Perimeter Center West Marietta: 4475 Roswell Road Idaho Bed Bath & Beyond store closure Pocatello: 1732 Hurley Drive Michigan Bed Bath & Beyond store closing Jackson: 1132 Jackson Crossing In January, the Journal reported the company was preparing to file for chapter 11 in the coming weeks. Bed Bath & Beyond has announced hundreds of store closures in recent months, part of a bid to keep the business alive by shuttering lower-performing locations. The store closings will put thousands of jobs at risk. Thats drastically down from the 32,000 as of February 2022. Bed Bath & Beyond had been trying to turn around its business and slash costs after the previous managements new strategies worsened a sales slump. Typically, struggling retailers file for bankruptcy protection after the holiday shopping season because they have a cash cushion coming from the two-month sales period. Sales at stores opened at least a year a key indicator of a companys health dropped 32%. The chains Bay Area stores are in San Francisco, Oakland, Daly City, Dublin, Pleasant Hill, Redwood City, Santa Clara, Santa Rosa and Vacaville. Bed Bath & Beyond, founded in 1971, has long been a go-to destination for home goods. Originally from L.A., she received her masters degree in journalism from the University of Southern California and a bachelors degree from Mount Saint Marys University in Los Angeles. Earlier this month, shares of Bed Bath & Beyonds stock fell to a record low of 31 cents, when the company said in a Securities and Exchange filing the retail giant could be unable to avoid bankruptcy if a proposal to implement a reverse split stock was not approved. {{^isModal}}* Exclusions apply. A lot of people have grown up with it, " said Neil Saunders, managing director of GlobalData Retail. In his 24-year tenure, Arnal oversaw operations in more than 50 countries and served as chief financial officer of the companys Indian, Middle East and Africa businesses, CFO for its fabric care and personal beauty care divisions and in executive finance roles in Brazil and Mexico. {{^ibPublic}} Private {{/ibPublic}} {{#ibPublic}} Public {{/ibPublic}}, {{#isPrivate}} Private {{/isPrivate}} {{^isPrivate}} Public {{/isPrivate}}. Bed Bath & Beyond said it secured a commitment of roughly $240 . The company announced last August itwouldcloseabout 150 of its namesake storesand slash its workforce by 20%. Suggestions The Force Bed Bath And Beyond Jda Login Bed Bath & Beyond will lay off 10% of its corporate workforce, totaling approximately 500 workers, as part of restructuring efforts; Note: Must hold valid JDA Mobile Framework and JDA Workforce licenses to login to the application; Manhattan Associates Inc Another Unusual And Quite Unfair. Bed Bath & Beyond is closing. Allow 3-5 days to begin receiving emails. NY: Bed Bath and Beyond: 'The Perfect Storm'. Before joining The Chronicle in 2021, she worked for USA Today, NPR affiliate KPCC and Curbed LA. if(year<1900){year=year+1900} The beleaguered home goods chain made the filing Sunday, April 23, 2023 in U.S. District Court in New Jersey, listing its estimated assets and liabilities in the range of $1 billion and $10 billion. For now, the companys 360 Bed Bath & Beyond stores and its 120 Buy Buy Baby sites as well as its websites will remain open to serve customers. After months of speculation, the retail chain announced in April it . The store closings will put thousands of jobs at risk. Some 1,300 employees were also laid off earlier this month, following a reduction of 20% of its workforce in August. In 2019, the retailer hired former Target executive Mark Tritton as CEO. And while many retailers were grappling with supply chain issues a year ago, Bed Bath was among the most vulnerable, missing many of its 200 best-selling items including kitchen appliances and personal electronics, during the holiday 2021 season. A Bed Bath & Beyond customer enters a store in Mountain View, Calif., Wednesday, May 9, 2012. But like other brick-and-mortar retailers, it was plagued with layoffs and financial woes in the following years. I would suggest having manager set it to be exactly the same as your mysource login. Note: Must hold valid JDA Mobile Framework and JDA Workforce licenses to login to the application. Arriving at the region's main airport of Lyon . (Paul Sakuma/AP). Get browser notifications for breaking news, live events, and exclusive reporting. That's drastically down from the 32,000 as of February 2022. The company's store closings will create opportunities for other chains to replace Bed Bath & Beyond. It made a monstrous run from $5.77 to $23.08 in a little more than two weeks in August. Bed Bath & Beyonds shares, which were trading at distressed levels, have also been on a turbulent run. The company said this week that it had net sales of about $1.45 billion in the second quarter of this fiscal year a roughly 26% drop from the same period last year. by JDA Software Group | Founded 1985, Calgary, Alberta, CAN. Its financial performance has also deteriorated. var year=today.getYear() Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. <div style="width: 22em; position: absolute; left: 50%; margin-left: -11em; color: red; background-color: white; border: 1px solid red; padding: 4px; font-family . "You didn't have that draw at Bed Bath & Beyond.". In an interview with the Journal, co-founder Warren Eisenberg admitted the brand was slow to adapt to e-commerce and online shopping, saying it missed the boat on the internet. The retailer tried to revitalize its business by boosting online sales and rolling out private-label brands, but those efforts ultimately didnt save the company, and Mark Trittonthe former CEO who introduced that turnaround planleft the company last year. Associated Press and The Enquirer and Victoria Moorwood, Bally Sports Ohio's parent company filed for bankruptcy. ST. LOUIS (KTVI) The store closing sales have started at 360 Bed Bath & Beyond locations and 120 Buy Buy Baby locations. Read reviews, compare customer ratings, see screenshots, and learn more about JDA Workforce. And the bankruptcy could offer a window of what's more to come, giving the changing landscape of the retail industry and the increasing challenges in the U.S. economy. The retail giant, known for its ubiquitous coupons, announced job cuts and store closures in an effort to reduce costs as it continues to struggle with weak sales and a recent senior leadership shakeup. These are the products most often compared to JDA Workforce Management. Apr 24, 2023. The company announced in August it would close about 150 of its namesake stores and slash its workforce by 20 percent. Home goods retailer Bed Bath & Beyond filed for chapter 11 bankruptcy and is preparing to close its remaining stores, the company announced Sunday, after months of speculation the suffering chain would make the financial move. Shares were hovering close to 30 cents in the past few days. Tritton quickly reduced coupons and started to introduce store label brands at the expense of national labels, a strategy that proved disastrous for the retailer. It made a monstrous run from $5.77 to $23.08 in a little more than two weeks in August. The beleaguered home goods chain made the filing Sunday, April 23, 2023 in U.S. District Court in New Jersey, listing its estimated assets and liabilities in the range of $1 billion and $10 billion. Average customer reviews & user sentiment summary for JDA Workforce Management: JDA Workforce Management has a 'good' User Satisfaction Rating of 78% when considering 26 user reviews from 3 recognized software review sites. Bed Bath & Beyond has filed for bankruptcy protection, but the company says its stores and websites will remain open and continue serving customers. The company employed 14,000 workers, according to the court filing. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices 0:05. During the depths of the pandemic, a number of retailers filed for Chapter 11 bankruptcy including Neiman Marcus and J.C. Penney. Bed Bath & Beyond joins a growing list of retailers that have filed for bankruptcy so far this year including party supplies chainParty CityandDavids Bridal. Bed Bath & Beyond said it expects to process returns and exchanges in accordance with its usual policies until May 24 for items purchased prior to Sunday. The bankruptcy filing comes as the companys shares have tumbled even more as speculation of an impending bankruptcy filing increased. JDA Mobile workforce provides real time access to schedule, time sheets, and employee information. The Associated Press contributed to this report. Powered and implemented by Interactive Data Managed Solutions. 1. But for the last decade or so, Bed Bath & Beyond struggled with weak sales, largely because of its messy assortments and lagging online strategy that made it hard to compete with the likes of Target and Walmart, both of which have spruced up their home departments with higher quality sheets and beddings. Typically one of the managers at the store can reset your JDA password through the store's security account. Arnal was not named in the company's Chapter 11 filing. Bed Bath & Beyond first started in 1971, and it eventually went public in 1992. . All original content is copyrighted by SelectHub and any copying or reproduction (without references to SelectHub) is strictly prohibited. And while many retailers were grappling with supply chain issues a year ago, Bed Bath was among the most vulnerable, missing many of its 200 best-selling items including kitchen appliances and personal electronics, during the holiday 2021 season. The retailer said it secured a commitment of roughly $240 million in financing from Sixth Street Specialty Lending, Inc. to allow it to keep operating during the bankruptcy process. In the Lyon and Grenoble metropolitan areas, and the Haute-Savoie department, INRAE units contribute to research activities at the Lyon-Saint-Etienne, Grenoble-Alpes, and Savoie Mont Blanc . All Rights Reserved. Bed Bath & Beyonds shares, which were trading at distressed levels, have also been on a turbulent run. Offers may be subject to change without notice. Three additional Bay Area locations closed earlier in the year, SFGATE reported. 5800 Deerfield Blvd., Mason, OH 45040 . The filing comes as the companys shares have tumbled even more as speculation of an impending bankruptcy filing increased. In a statement, the company, based in Union, New Jersey, said it voluntarily made the filing "to implement an orderly wind-down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.". But for the last decade or so, Bed Bath & Beyond struggled with weak sales, largely because of its messy assortments and lagging online strategy that made it hard to compete with the likes of Target and Walmart, both of which have spruced up their home departments with higher quality sheets and beddings. In a statement, the company, based in Union, New Jersey, said it voluntarily made the filing to implement an orderly wind down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.. Tap on Apps 3. OXO Good Grips Garlic Press Olive and Cherry Pitter Citrus Squeezer Collection By using rotation planning, assignments, and rostering, schedules can be In a statement, the company based in Union, New Jersey, said it voluntarily made the filing to implement an orderly wind down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets., The firm said its 360 Bed Bath & Beyond and 120 Buy Buy Baby stores and websites will remain open and continue serving customers as it begins its efforts to effectuate the closure of its retail locations.. sorry, this offer is only available for new email subscribers, {{#existingEmailTxt}}{{existingEmailTxt}}{{/existingEmailTxt}}{{^existingEmailTxt}}start shopping{{/existingEmailTxt}}. Download JDA Workforce and enjoy it on your iPhone, iPad, and iPod touch. It listed estimated assets and liabilities in the range of $1 billion to $10 billion. Secure Name/Password - Form. Bed Bath & Beyond warned on Jan. 5 that it was considering various options including filing for bankruptcy and said that there was "substantial doubt" that it could stay in business. For now, its 360Bed Bath & Beyond storesand its 120 Buy Buy Baby stores as well as its websites will remain open to serve customers. It listed estimated assets and liabilities in the range of $1 billion and $10 billion. Choose BY WFM 5. Download JDA Workforce and enjoy it on your iPhone, iPad, and iPod touch. A closed Bed Bath & Beyond store this year in Larkspur, California. He died by suicide in September 2022 in New York City, less than a month after a federal class-action lawsuit accused him and others of inflating Bed Bath & Beyond stock. On Friday he ordered remaining ones back to the office, The housing market is shiftingjust look at earnings published by 2 giant Fortune 500 homebuilders, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Jessica Flores is a reporter for The San Francisco Chronicle. The retailer said in its filing that it expects to close all stores by June 30. "The Container Store will offer a 20% discount off any single item through May 31, 2023, for customers who bring a competitor's blue coupon to any store location," the company said. The beleaguered home goods chain made the filing Sunday in U.S. District Court in New Jersey and said it will start an orderly wind-down of its operations including eventually closing its stores, while seeking a buyer for all or some of its businesses. The retailer said it secured a commitment of roughly $240 million in financing from Sixth Street Specialty Lending, Inc. to allow it to keep operating during the bankruptcy process. But the stock fell back to Earth after Ryan Cohen, the billionaire co-founder of online pet-products retailer Chewy Inc. who purchased a nearly 10% stake in Bed Bath & Beyond last March, sold off all his shares. Click the link in the email we sent to to verify your email address and activate your job alert. A year ago, shares were trading at around $17. The beleaguered home goods chain made the filing Sunday in U.S. District Court in New Jersey and said it will start an orderly wind down of its operations, while seeking a buyer for all or some of its businesses. Meanwhile, online players like Wayfair have lured customers with affordable and trendy furniture and home dcor. But the company has had a hard time having suppliers commit to delivering merchandise because of the retailer's financial woes. Its financial performance has also deteriorated. Call Center Workforce Management Software. There's been little new retail development since the 2008 financial . In the bankruptcy filing, the retailer said it anticipates closing all of its stores by June 30. After years of struggling with sales and warnings of potential bankruptcy, the national home goods chain filed for Chapter 11 bankruptcy protection in U.S. district court in New Jersey and said it is seeking a buyer for all or some of its businesses. All Bed Bath & Beyond and Buy Buy Baby retail stores and websites will remain open as the company begins to close stores, and the chain will stop accepting its coupons Wednesday. According to Seth Basham, a managing director at the financial services and investment firm Wedbush Securities, Bed Bath & Beyond is seeing some of the same problems as other retailers in the home furnishings sector, such as a decline in sales and excess inventory that needs to be sold off. Bed Bath & Beyond joins a growing list of retailers that have filed for bankruptcy so far this year including party supplies chain Party City and David's Bridal. It also lined up more than $500 million of new financing. {{^isMultiSku}} {{#isShipIt}} {{#freeShippingPromo}} {{#freeShippingEligible}}, Success! If you cannot see the document, click here to download it. Thats how many retail stores the chain once operated. The home goods retailer had been trying to turn around its business and slash costs after previous managements new strategies worsened a sales slump. Welcome Rewards Points Program. In late March, it noted that preliminary results showed anywhere from a 40% to 50% decline in sales at stores opened at least a year for the quarter that ended Feb. 25. Bittersweet Nobel school demolition underway in Miller, Treasury Secretary Janet Yellen says US could hit debt ceiling as soon as June 1, Despite mixed signs from economy, Class of 23 optimistic about job prospects, Do Not Sell/Share My Personal Information. And the pandemic, which happened shortly after his arrival, forced the retailer to temporarily close its stores. The company made this announcement in a . Buy Buy Baby 2023 Bed Bath & Beyond Inc. and its subsidiaries.2023 Bed Bath & Beyond Inc. and its subsidiaries. Find out who the leaders are with our In-Depth Report. In late March, it noted that preliminary results showed anywhere from a 40% to 50% decline in sales at stores opened at least a year for the quarter ended Feb. 25. {{itemsAdded}} item(s) added to your cart, {{^editQty}} {{^isMultiSku}} {{#isShipIt}} {{#freeShippingPromo}} {{#freeShippingEligible}}. Sales at stores opened at least a year -a key indicator of a company's health -dropped 32%. But in 2022, there was a respite in retail bankruptcy filings as shoppers, flush with government stimulus money and a pile of savings, spent with abandon, helping to lift all types of retailers. The Associated Press contributed to this story. Big shift in weather is headed to California. The filing also comes as the economy is weakening, and shoppers are tightening their purse strings. The company also said in a Securities and Exchange Commission filing in late March that it planned to sell $300 million worth of shares to avoid bankruptcy filing. Money: Bally Sports Ohio's parent company filed for bankruptcy. The retaileroustedTritton in June 2022 after two back-to-back quarters of disastrous sales. Starting today, shoppers can turn in an expired Bed Bath & Beyond coupon at any Big Lots store and receive 20% off their entire purchase of $50 or more*. In late January, it noted in a government filing it was in default on its loans and didn't have the funds to repay what it owes. The move comes after the company failed to secure funds to stay afloat. Some 1,300 employees were also laid off earlier this month, following a reduction of 20% of its workforce in August. Its an institution in retailing, but unfortunately being an institution doesnt protect you from financial woes.. Bed Bath & Beyond received $240 million from Sixth Street Specialty Lending, Inc. in funding to keep its retail locations and websites operating during the bankruptcy process. the force scheduling bed bath and beyond Bed Bath & Beyond warned Jan. 5 that it was considering various options . The home goods retailer had been issuing several warnings about a potential bankruptcy filing since earlier this year. Shares were hovering close to 30 cents in the past few days. A week later, Bed Bath & Beyond posted a 33% drop in sales and a widening loss for the fiscal third quarter, ended Nov. 26, compared with the year-ago period. In late January, it noted in a government filing it was in default of itsloansand didnt have the funds to repay what it owes. Bed Bath & Beyond has filed for bankruptcy protection, but the company says its stores and websites . Go to Buy Buy Baby website. That same month, the brand defaulted on its debt, and it warned it did not have enough money to pay back some of what it owed. Founded in 1971, Bed Bath & Beyond had for years enjoyed its status as a big box retailer that offered a vast selection of sheets, towels and gadgets unmatched by department store rivals. 2757 Town Center Blvd., Crestview Hills, KY 41017. The Cliff House was once a colossal Victorian mansion that met a Warriors crush Kings 120-100 as Steph Curry scores Game 7-record 50 points, Steph Curry adds to his Warriors legend by lighting up Kings for 50. Bed Bath & Beyond's shares, which were trading at distressed levels, have also been on a turbulent run. Founded in 1971, Bed Bath & Beyond had for years enjoyed its status as a big box retailer that offered a vast selection of sheets, towels and gadgets unmatched by department store rivals. Sign in or create an account to continue. needs these 5 sites to thrive so the city can recover. The Buffalo area will likely lose its remaining Bed Bath & Beyond stores. It was among the first to introduce shoppers to many of todays household items like the air fryer or single-serve coffee maker, and its 15% to 20% coupons were ubiquitous. The company said it also intends to uphold commitments to customers, employees and partners. Tap Clear Data 6. Meanwhile, online players like Wayfair have lured customers with affordable and trendy furniture and home dcor. Sign in A California man is forced to live in a country hes never known, Warriors lean into championship DNA, beat Kings behind sublime Curry, Your Privacy Choices (Opt Out of Sale/Targeted Ads). JDA Workforce Management helps users to strategically plan how to best utilize team members based on their strengths and weaknesses. Though Bed Bath & Beyond got a boost early in the pandemic when many people were spending more time at home, the gains didn't last, and earnings have continued to drop. Though Bed Bath & Beyond got a boost early in the pandemic when many people were spending more time at home, the gains didn't last, and earnings have continued to drop. The Clermont-Auvergne-Rhne-Alpes Centre brings together the units located in the Auvergne region, from Bourbonnais to Aurillac via Clermont-Ferrand, with 14 research units and 14 experimental facilities, representing 840 staff (permanent and contractual staff). The company employed about 32,000 people as of February 2022, including 26,000 store employees. Read reviews, compare customer ratings, see screenshots, and learn more about JDA Workforce. During the depths of the pandemic, a number of retailers filed for Chapter 11 bankruptcy including Neiman Marcus and J.C. Penney. The beleaguered home goods chain made the filing Sunday in U.S. District Court in New Jersey and said that its store and websites will remain open for now. Still, turning around Bed Bath & Beyond has been difficult amid increasing competition from discounters. Tritton quickly reduced coupons and started to introduce store label brands at the expense of national labels, a strategy that proved disastrous for the retailer. AP Writer Bruce Shipkowski in Toms River, New Jersey contributed to this report. It also lined up more than $500 million of new financing. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. Here are five key structures that need to bounce back to help the city recover. NEW YORK (AP) Bed Bath & Beyond one of the original big box retailers known for its seemingly endless offerings of sheets, towels, and kitchen gadgets filed for bankruptcy protection, following years of dismal sales and losses and numerous failed turnaround plans. Bed Bath & Beyond has filed for bankruptcy protection, but the company says its stores and websites will remain open and continue serving customers.
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