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$1.4 Billion Cash Won't Save Bed Bath & Beyond

TheMotleyFool

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$1.4 Billion Cash Won't Save Bed Bath & Beyond

Bed Bath & Beyond (NASDAQ: BBBY) has struggled mightily in recent years, unable to keep up with changing consumer habits. Weak store traffic and underinvestment in e-commerce have led to sagging sales, while an inventory overhang and increased promotional activity have weighed on margins.

The home-furnishings icon hired Target veteran Mark Tritton as its new CEO last fall. Even if economic conditions had remained strong, Tritton would have faced a tough task turning Bed Bath & Beyond around. In the current environment, with the COVID-19 pandemic having forced it to close most of its stores, Bed Bath & Beyond's prospects are even worse. As a result, Bed Bath & Beyond stock has plummeted this year.