Days after disclosing bankruptcy is a real possibility, Bed Bath & Beyond, on Tuesday, will update investors on what’s ahead for the embattled home retailer which has been plagued with falling sales, allegations of financial fraud which surfaced following the suicide of its CFO and mounting store closures.
alleging that he and majority shareholder, GameStop Chair Ryan Cohen, artificially inflated the company’s value in a "pump and dump" scheme.that will close. At the time, the company was putting together a turnaround plan, which has since fallen flat based on the latest update.assumed the role as chief executive officer after serving several months in an interim capacity and being unanimously approved by the company's board of directors.
In an interview with FOX Business on Monday, Michael Baker, a senior research analyst at DA Davidson, said: "Bed Bath and Beyond has endured a long, slow loss of market share as others have gotten more aggressive in the space over the past decade or more." "This includes online competitors like Amazon and Wayfair, as well as traditional retailers like Target and Walmart, he continued. "Growth trends in retail do seem to have slowed from the record pace set in 2021 and early 2022, but Bed Bath and Beyond’s troubles are more about company specific issues rather than retail as a whole."
"In 2022, eight of the 14 retail stocks outperformed the market, with five of the companies up despite the S&P 500’s 19.4% dip," he finished.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bed Bath & Beyond warns of potential bankruptcy - San Francisco Business TimesThe company has a dozen locations in the Bay Area, and others have already closed over the past year.
Read more »
Bed Bath & Beyond stock rallies despite looming specter of potential bankruptcyBed Bath & Beyond Inc. undefined stock rose 16.8% before market open on Monday. Last week the troubled home goods retailer's stock plunged after the...
Read more »
What's ahead for Bed Bath & Beyond in wake of bankruptcy warningBed Bath's turnaround plan called for cost-cutting and improved partnerships with vendors. But its sales have yet to improve.
Read more »
UBS sees these retail stocks winning from a potential Bed Bath & Beyond bankruptcyDoubts about Bed Bath & Beyond's future opens a door for other retailers to pick up market share, says UBS
Read more »
Bed, Bath & Beyond rebounds in meme-stock rallyShares of Bed, Bath & Beyond Inc rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller might be a potential acquisition target.
Read more »
National Bubble Bath Day: Shop Bath Bombs, Bath Accessories & More Fizzy Faves - E! OnlineSit back, relax, and soak up our suggestions for the best way to celebrate National Bubble Bath Day (and every day).
Read more »