JUST IN: Bed Bath & Beyond bankruptcy might be next, retailer warns
Bed Bath & Beyond has been distressed for years, having failed to reinvent itself in the digital age.
The retailer said Thursday that it expects to report a 33% sales decline in the quarter that ended Nov. 26, "driven by lower customer traffic and reduced levels of inventory availability, among other factors." The company also said it expects to report a net loss of $386 million, up from $276 million a year earlier.Bed Bath & Beyond has dealt with disruption in the executive ranks, excess inventory and a variety of failed strategies, including an attempt to declutter its stores.
The company has also attracted the interest of meme stock traders inspired by a one-time investment of GameStop chair Ryan Cohen, but the stock plunged after Cohen sold off his shares.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Bed Bath & Beyond shares plummet as company warns of deeper financial troubles
Lire la suite »
Bed Bath stock plunges after warning that it may need to declare bankruptcyBed Bath & Beyond Inc. said Thursday that it has 'substantial doubt' about its 'ability to continue as a going concern'
Lire la suite »
Our favourite bed sheets to make a dreamy bedroom oasisWe tried the best sheets for all kinds of sleepers — many Canadian\u002Dmade using sustainable methods and materials
Lire la suite »
Scarborough Hospital patient sleeps in car due to bed shortageMichael Woodcock, suffering appendicitis, says he would have otherwise had to sleep in a chair.
Lire la suite »
Jeremy Renner shares update from hospital bed after snowplow accidentThe 'Avengers' actor shared a photo from his hospital bed thanking those who have shared thoughtful messages.
Lire la suite »
Jeremy Renner shares hospital bed photo of bruised face after scary snowplow accident“Thank you all for your kind words. 🙏. Im too messed up now to type,” Renner wrote in the caption. “But I send love to you all.”
Lire la suite »