Thndr Claps » U.S. Claps » Nasdaq 🔔 » Can Bed Bath & Beyond survive this bloodbath?🩸
The ClapShares of retail store chain Bed Bath & Beyond (NASDAQ: BBBY) plummeted yesterday on the back of worse-than-expected Q1-2022 results.
The DeetsThe company’s sales fell 25% YoY, & high costs affected the company’s gross profit margins, which were significantly worse than the previous quarter’s.
Results weren’t the only catalystBed Bath & Beyond’s CEO, who was brought in from Target to turn the company around, was fired yesterday.
Why this mattersBBBY shares are down over 85% over the past twelve months, & the company did not give an encouraging outlook on its performance.
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