![]() ![]() It even boosted its dividend payment to shareholders, saying that it was "a reflection of the long-term health of the business. BBBY stock plunged about 30 on 5 January on bankruptcy concerns Photo: Juan Llauro / Shutterstock. Revenue fell 27 year over year in the second quarter to land at 1.43 billion, and the company. ![]() In a filing Wednesday, Bed Bath & Beyond announced that a special meeting of shareholders will be held May 9 to vote on the. The company was not immediately available for comment about the recent downgrades.īut Bed Bath & Beyond remained upbeat about its future in its recent earnings report. Bed Bath & Beyonds business is in dire straits. The sometime meme stock is pushing for a reverse stock split. ![]() That could make it more difficult for Bed Bath & Beyond to borrow more money and will likely increase the amount of interest it has to pay on its existing long-term debt load, which stood at about $1.5 billion as of the end of its most recent quarter. Bed Bath & Beyond ( BBBY 0.74) stock was soaring once again today as the short squeeze in the meme stock accelerated, attracting more traders on platforms like Reddits WallStreetBets. S&P warned that it could soon downgrade Bed Bath & Beyond's bonds to junk, if "the company cannot stabilize operating performance in the face of continued intense competition from online retailers." LOS ANGELES (CBSLA/CNN Money) - Bed Bath & Beyond is struggling to keep up with its competitors after issuing a lousy outlook last week, sending the stock to a nearly 10-year low.Ĭredit ratings agency Standard & Poor's cut its rating on Bed Bath & Beyond late Tuesday to a BBB- level, the lowest that S&P still considers investment grade. ![]()
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