Bed Bath & Beyond warns investors of possible bankruptcy

(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

Click here for reuse options!
Copyright 2023 Hiram's 1555 Blog

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.