Bed Bath & Beyond reports wider-than-expected loss as possible bankruptcy looms
Publishing timestamp: 2023-01-10 12:48:07
Summary
Bed Bath & Beyond posted wider quarterly losses than expected and CEO Sue Gove acknowledged that the company's turnaround plan had not achieved its goals. The company is cutting costs and closing 150 stores, and its net losses have exceeded $1.12 billion for the first nine months of the fiscal year. The company's market value has fallen to $182 million, but its shares gained more than 27% Tuesday.
Sentiment: NEGATIVE
Tickers: BBBY,
Keywords: business, earnings, retail industry, business news, bed bath & beyond inc, breaking news: earnings, breaking news: business,
Source: https://www.cnbc.com/2023/01/10/bed-bath-beyond-bbby-q3-2023-earnings.html