More Reasons to Avoid Bed Bath & Beyond Stock
Investors had good reasons to be pessimistic heading into the fiscal first-quarter report from Bed Bath & Beyond (NASDAQ: BBBY). The specialty retailer announced a brutal sales decline back in April while predicting a rebound on both the top and bottom lines that would start in the second half of 2022.
Bed Bath & Beyond's late June earnings report showed worsening demand trends and ballooning net losses. These factors make management's broader rebound plan seem far too optimistic. Let's take a closer look.
Management said in mid-April that customer traffic was rapidly shifting away from its core growth niche of home furnishings. That move intensified through the first quarter.
Source Fool.com
