Bed Bath & Beyond Stock Lawsuit Investigation

On February 11, 2020, Bed Bath & Beyond reported its preliminary fourth quarter 2019 financial results, disclosing a 5.4% decline in same-store sales. According to MarketWatch, the company attributed the sales decline to issues with inventory management, as well as slower store traffic and increased promotions and markdowns. The gross margin for the period also fell around 300 basis points, due largely to new promotions and higher online sales.

According to the CEO of Bed Bath & Beyond, Mark Tritton,

We are experiencing short-term pain in our efforts to stabilize the business, including the pressures of store traffic trends coupled with our own executional challenges.

Some analysts reported on the financial results as well. According to Wells Fargo analysts led by Zachary Fadem and quoted by MarketWatch,

In our view, this represents a discouraging start to the Tritton era, and while it’s widely understood that a Bed Bath & Beyond turnaround would be no easy task, we believe it’s safe to say that near-term improvement appears increasingly unlikely at this point

This announcement came a little over a month after the company withdrew its forecast for fiscal year 2019, Reuters states. On this news, shares of Bed Bath & Beyond dropped dramatically. Investors are encouraged to contact our firm about recovering their losses.

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