Here's Why Bed Bath & Beyond Stock Plummeted 37% in September
Shares of Bed Bath & Beyond (NASDAQ: BBBY) plummeted 37.3% in September, according to data provided by S&P Global Market Intelligence. Most of this drop came at the end of the month when the company released financial results that disappointed investors and analysts alike. The stock has continued its slide into October and now sits a painful 73% down from its high in 2021.
Bed Bath & Beyond was supposed to be in the early phases of a multiyear transformation to get sales back on track. But in the second quarter of 2021, the company only generated sales of $2 billion, which was down 26% year over year. This comes after a 1% year-over-year decline in the same quarter last year.
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Source Fool.com
