What's ahead for Bed Bath & Beyond in wake of bankruptcy warning
Publishing timestamp: 2023-01-09 16:38:44
Summary
Bed Bath & Beyond, a struggling home goods retailer, warned it may have to file for bankruptcy due to cash-strapped sales and store traffic dwindling. The company has attempted a turnaround plan, but it has yet to improve sales. Investors will want to hear if the company has improved its inventory levels and secured any exclusive items for the holiday season. The company's stock performance reflects its tough path forward, and its net sales for the third quarter are expected to be nearly 33% lower than the year-ago period. Without a savior swooping in with an infusion of cash or to buy a stake of the company, Bed Bath & Beyond may be toast.
Sentiment: NEGATIVE
Keywords: target corp, business, earnings, business news, corporate bankruptcy, bed bath & beyond inc, retail industry,
Source: https://www.cnbc.com/2023/01/09/bed-bath-beyond-bbby-whats-ahead-in-wake-of-bankruptcy-warning.html