Markets

Stock Alert: Bed, Bath & Beyond Down 12%

(RTTNews) - Shares of Bed, Bath & Beyond Inc. (BBBY) are slipping over 12% on Wednesday morning. The home retailer outlined a three-years turnaround plan Wednesday, which includes store closures and supply chain changes. U.S. stocks are trading down on Wednesday morning as investors are worried about the economic impact due to spike in coronavirus cases lately.

The company said it is on track to close about 200 Bed Bath & Beyond stores by 2021 and expects to generate annualized EBITDA savings of around $100 million. BBBY is currently trading at $21.13, down $2.89 or 12.02%, on the Nasdaq.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

BBBY

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More