Shares of Bed, Bath & Beyond Inc rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller might be a potential acquisition target.
Bed, Bath & Beyond's stock lost nearly half its value last Thursday and Friday after the companyReuters alsoBed Bath & Beyond has struggled for years with shrinking sales as it competes against Amazon
and other rivals, with investors pointing to problems including cluttered stores and an over-reliance on discount coupons. Its shares fell 83% in 2022. In a filing last week, Bed Bath & Beyond said it expected to show a net loss of $385.8 million for its fiscal quarter ending in November, including $100 million of impairment charges. The company is scheduled to report its results early on Tuesday.
Of the 13 analysts covering the company, three recommend "hold," eight rate the stock "sell," and two have "strong sell" recommendations. The median target price is $2, down from $3 a month ago. Reporting by Stephen Culp in New York; Additional reporting by Noel Randewich in Oakland, California; Editing by Alison Williams
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