“The consignment plan feels like a Hail Mary pass at this point, though necessary as Bed Bath & Beyond scrambles for inventory,” Carol Spieckerman, president of retail advisory firm Spieckerman Retail, told MarketWatch on Wednesday. Shares in Bed Bath & Beyond surged more than 70 on Tuesday as retail investors on social media flocked to the stock after a filing revealed activist investor Ryan Cohen is holding steady on his. Instrument Name Bed Bath & Beyond Instrument Symbol (BBBY-Q). Related: Bed Bath & Beyond has launched a ‘Hail Mary pass’ with latest partnership, says retail expert Bed Bath & Beyond’s stock sank to a record low last week after the company gave a sales warning.Įarly Wednesday, the retailer announced a new vendor consignment program with ReStore Capital in an attempt to boost its inventory. NEW YORK, Jan 9 (Reuters) - Shares of Bed, Bath & Beyond Inc (BBBY.O) rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller. Cash on the company’s balance sheet fell 90 from a year earlier to just 107.5m. That came after a turbulent couple of years marked by strategic missteps, cash burn, challenging underlying business trends and the impact of the COVID-19 pandemic. Bed, Bath & Beyond reported a net loss for the first quarter of 358m, or 4.49 a share, worse than the 1.28 a share loss analysts had forecast, citing inflationary pressures and ongoing supply-chain problems. It has been a tumultuous few months for the retailer and sometime meme-stock company, which announced an equity offering earlier this year in an attempt to stave off bankruptcy. Bed Bath & Beyond (OTCMKTS: BBBYQ) stock is rising 2 today on news that it has delayed its bankruptcy-run sale.The home furnishing retailer has been on its last legs ever since declaring Chapter. Last month, Bed Bath & Beyond’s stock fell below $1 after the company said it planned to hold a shareholder meeting to vote on a reverse stock split. The stock has added 134 this year, giving it a market value of more than 4.7 billion. Related: Bed Bath & Beyond calls for May 9 shareholder meeting to vote on reverse stock split proposal Bed Bath & Beyond shares closed at 44.19, up 16.93, or 62. The vote is on whether to effect a reverse stock split “at a ratio in the range of 1-for-10 to 1-for-20, with such ratio to be determined at the discretion of the Board,” according to the filing. In a filing Wednesday, Bed Bath & Beyond announced that a special meeting of shareholders will be held May 9 to vote on the reverse stock split proposal. Bed Bath & Beyond shares are down 9% Thursday, compared with the S&P 500’s
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |