Guess Who Just Took a Big Stake in Bed Bath & Beyond
GameStop chairman Ryan Cohen is none too impressed with the work home goods retailer Bed Bath & Beyond (NASDAQ: BBBY) has done to turn itself around and thinks the time has come for the retailer to put itself up for sale.
In a letter to Bed Bath & Beyond's board of directors and Securities and Exchange Commission (SEC) filings, Cohen said his investment firm RC Ventures had taken a nearly 10% stake in the company, worth $150 million. He pointed out that after two and a half years under CEO Mark Tritton, the retailer still badly trails the S&P 500, the retail industry, and its peers.
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Source Fool.com
