Bed Bath & Beyond (BBBY) Stock Rebounds After Black Friday Woes
Bed Bath & Beyond (NASDAQ:BBBY) stock is bouncing back on Tuesday after the retail company’s shares took a dive on Monday.
Shares of BBBY stock were performing poorly yesterday following news that its Black Friday sales weren’t everything investors hoped they would be. That includes the company not pulling in as many customers for Black Friday or Cyber Monday as its rivals.
Adding to that, Bed Bath & Beyond is also dealing with inventory issues. Recent reports claim that around 40% of the company’s inventory was out of stock. That meant customers couldn’t buy goods from it during the Black Friday sale, which is why it did so poorly.
Holidays Could Further Hurt BBBY Stock
It doesn’t look like things will get better for Bed Bath & Beyond any time soon. The latest reports suggest the company could continue to have inventory troubles throughout the holiday season.
The holiday quarter is important for retailers as they pull in more customers shopping for gifts. If Bed Bath & Beyond can’t provide goods to customers, it’ll likely hurt BBBY stock even more when its earnings report for the period comes out.
While BBBY stock is recovering today with a 5.5% gain as of noon Tuesday, investors will want to be wary about taking a stake in the troubled retailer.
There’s also plenty more stock market news traders will want to know about below!
Luckily, we’ve got all of that ready to go for traders today! That includes what’s happening with shares of Apollo Endosurgery (NASDAQ:APEN), ContextLogic (NASDAQ:WISH) and Bilibili (NASDAQ:BILI) stock today. You can catch up on all of that news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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