Bed Bath & Beyond Is Running Out of Options
Investors weren't expecting good news from Bed Bath & Beyond (NASDAQ: BBBY) this week, given that almost all of its stores were closed for most of the fiscal second quarter. COVID-19 did, in fact, hurt sales and push the retailer further into net loss territory and higher financial stress.
But the report was just as bad for shareholders who were hoping to see concrete signs that Bed Bath & Beyond has a bright future ahead as a multichannel retailer.
Sure, its digital sales spiked in April and May as people prioritized spending on home appliances and furnishings. Yet the chain doesn't appear on track to repeat success stories that investors have seen from national retailers like Target (NYSE: TGT).
Source Fool.com
