(The Hill) — Bed Bath & Beyond (BB&B) reported concerning economic figures on Thursday, warning investors that bankruptcy may be on the horizon, which sent the company’s stock price plummeting.
Preliminary earnings reported by BB&B showed slowing sales, with the $1.3 billion figure for the third quarter being about a third lower than the year before. The company also noted lower foot traffic through its stores.
BB&B said it anticipated reporting a loss of $385.5 million for the third quarter, which is nearly $100 million worse than its losses in the quarter last year. ……....more here
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