![]() “The consignment plan feels like a Hail Mary pass at this point, though necessary as Bed Bath & Beyond scrambles for inventory,” Carol Spieckerman, president of retail advisory firm Spieckerman Retail, told MarketWatch on Wednesday. NEW YORK, Jan 9 (Reuters) - Shares of Bed, Bath & Beyond Inc (BBBY.O) rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller. Related: Bed Bath & Beyond has launched a ‘Hail Mary pass’ with latest partnership, says retail expert Bed Bath & Beyond’s stock sank to a record low last week after the company gave a sales warning.Įarly Wednesday, the retailer announced a new vendor consignment program with ReStore Capital in an attempt to boost its inventory. That came after a turbulent couple of years marked by strategic missteps, cash burn, challenging underlying business trends and the impact of the COVID-19 pandemic. We expect all in-stock orders will be fulfilled. It has been a tumultuous few months for the retailer and sometime meme-stock company, which announced an equity offering earlier this year in an attempt to stave off bankruptcy. Bed Bath & Beyond and buybuy BABY stores are open and serving customers as we. Today, Bed Bath is making headlines as another potential bidder for its assets. Last month, Bed Bath & Beyond’s stock fell below $1 after the company said it planned to hold a shareholder meeting to vote on a reverse stock split. As Bed Bath & Beyond (OTCMKTS: BBBYQ) continues to go through its bankruptcy process, BBBYQ stock remains in the news. Related: Bed Bath & Beyond calls for May 9 shareholder meeting to vote on reverse stock split proposal Driving the news: The position gives Overstock, an online discount retailer, the ability to get the first bid on Bed Baths remaining assets. The vote is on whether to effect a reverse stock split “at a ratio in the range of 1-for-10 to 1-for-20, with such ratio to be determined at the discretion of the Board,” according to the filing. Bed Bath & Beyond has selected as its 'stalking horse' bidder for the intellectual property behind its namesake banner, according to a bankruptcy filing on Tuesday. In a filing Wednesday, Bed Bath & Beyond announced that a special meeting of shareholders will be held May 9 to vote on the reverse stock split proposal. Bed Bath & Beyond is closing hundreds of stores. The stock has added 134 this year, giving it a market value of more than 4.7 billion. Bed Bath & Beyond shares are down 9% Thursday, compared with the S&P 500’s Bed Bath & Beyond shares closed at 44.19, up 16.93, or 62.
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