Connect with us

Hi, what are you looking for?


Bed Bath & Beyond stock opened 25% down today: what happened?

bed bath & beyond stock down on bankruptcy

Shares of Bed Bath & Beyond Inc (NASDAQ: BBBY) opened nearly 25% down this morning after the retailer warned of potential bankruptcy.

Bed Bath & Beyond stock down on Q3 results

The Union-headquartered firm also reported its unaudited preliminary results for the third financial quarter on Thursday that further disappointed investors.

Revenue printed at $1.259 billion down from $1.878 billion in the same quarter last year. According to the press release, Bed Bath & Beyond ended up losing $385.8 million in Q3. Street had anticipated a much narrower $158 million loss on $1.40 billion in revenue.

Executives attributed the weakness primarily to reduced levels of inventory and lower customer traffic this quarter.

Versus its high in mid-August, Bed Bath & Beyond stock is now down more than 90%.

Bed Bath & Beyond Inc is near bankruptcy

Last year, the retail chain of domestic merchandise said it’s closing about 150 of its stores and lowering its headcount by 20% to cut costs. But the business update this morning suggests such measures are proving to be insufficient to avoid bankruptcy.

Bed Bath & Beyond has close to $1.20 billion in unsecured notes that are set to mature in 2024, 2034, and 2044. In a filing with the SEC on Thursday, the Nasdaq-listed firm said:

Based on recurring losses and negative cash flow from operations as well as current cash and liquidity projections, the Company has concluded there’s substantial doubt about the Company’s ability to continue as a going concern.

BBBY’s net loss this quarter included roughly $100 million worth of impairment charges.

The post Bed Bath & Beyond stock opened 25% down today: what happened? appeared first on Invezz.

You May Also Like


Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


Mimiq, Inc is announcing today the launch of their new product, Mimiq Track, at CES as part of their latest product line to operate...


On this week’s edition of Stock Talk with Joe Rabil, Joe looks at the longer-term picture for stocks like AAPL, TSLA, and more. He...

Latest News

Kevin McCarthy’s difficult road to becoming House speaker ended early Saturday morning after Republicans appeared to have miscounted the number of votes they needed...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023