Bed Bath & Beyond Inc. (BBBY) is an omnichannel vendor that makes it easy for clients to feel at home. It sells a diverse collection of products in different markets including home, beauty, and baby. Moreover, it is a collaborator in a JV which operates different stores in Mexico.
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BBBY stock price during the early trading session of March 24, 2022, as of the writing was $23.2 with a remarkable incline of 5.34%.
BBBY: Events and Happenings
On March 25, 2022, BBBY updated on its entry into a cooperation contract with Ryan Cohen and RC Ventures LLC. Both of them are the beneficial owners of up to 9.8% of its outstanding shares. According to the terms of the contract, three RC Ventures’ designated directors will join the company’s Board of Directors with immediate effect.
On March 24, 2022, BBBY informed the press regarding its subsidiary buybuy BABY’s collaboration with Primary. Primary will launch its unisex, colorful clothing collection for newborns and kids. On February 17, 2022, BBBY reported appointing Minesh Shah to the company’s Board of Directors with effect from March 1. He served as the COO at Stitch Fix.
BBBY: Key Financials
BBBY issued its third-quarter 2021 consolidated financials on January 6, 2022, for the three months ended November 27, 2021. Some of the notable aspects are mentioned here.
The company’s net sales for Q3 2021 were recorded to be $1.87 billion against $2.61 billion in the same quarter of 2020. Its net sales declined by 28% over the year along with missing the revenue estimations by $71 million.
Diluted net loss in Q3 2021 was $276 million or $2.78 per share in comparison to $75 million or $0.61 in the comparable quarter of 2020. Its EPS decreased considerably over the year along with missing the EPS estimates by -$2.75.
BBBY stock improved in YTD as it touched a new high of 45% in the reported period. Its stock is also gaining pace in early trading as the company entered into a contract with Ryan Cohen and RC Ventures. For the fourth fiscal quarter of 2021, the company’s revenue guidance is $2.09 billion along with a target EPS of $0.04.