What the Smartest Investors Know About Bed Bath & Beyond Stock
In early January, Bed Bath & Beyond (NASDAQ: BBBY) confirmed it was teetering on the brink of bankruptcy. In a press release, it admitted there was "substantial doubt" it could stay in business based on its "recurring losses and negative cash flow from operations" in the first nine months of 2022 and said it was considering "all strategic alternatives" -- including restructuring its debt and selling its assets -- to stay afloat.
That warning shouldn't surprise anyone. The big-box retailer hasn't grown its revenue or posted a profit on a generally accepted accounting principles (GAAP) basis since fiscal 2017 (which ended in March 2018). It failed to shrink its cavernous stores, streamline its business, and expand its e-commerce business in a timely manner to counter intense competition from Amazon, Walmart, Target, IKEA, and other better-run mass retailers.
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Source Fool.com
