Bed Bath & Beyond's fiscal third-quarter sales fell by a third as the home goods company struggles to strike the right balance with its shoppers, a sign of its worsening outlook.
FILE - A Bed, Bath & Beyond is photographed in Pasadena on Thursday, Jan. 28, 2021 in Los Angeles, CA.
Last week, Bed Bath & Beyond cautioned that it may need to file for bankruptcy protection as it struggles to attract shoppers. It then said that it’s considering options including selling assets or restructuring its business in bankruptcy court. But the chain acknowledged that even those efforts may not be successful.
While the quarterly performance was not a surprise given Bed Bath & Beyond’s update on its results last week, Neil Saunders, managing director of GlobalData, said in statement that it’s still a bit of a shock and only adds to concerns about Bed Bath & Beyond's survival. "We want our customers to know that we hear them and are charging ahead every day to meet their needs," she said.
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