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Bed Bath & Beyond Reports Big Losses
Description
Bed Bath and Beyond ($BBBY@US) reported larger-than-expected third-quarter losses. The beleaguered home retailer reported a net loss of $393 million, compared to the $386 million expected. It has cash, equivalents, and investments of $200 million and a total liquidity of $500 million as of its fiscal third quarter. Its cash flow is at a deficit of $307.6 million. Bed Bath and Beyond have struggled to keep its shelves stocked, and CEO Sue Gove commented that moving forward, it would “actively pursue higher in-stock levels to meet proven demand.”
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