Bed Bath & Beyond to Close 150 Stores, Cut Staff, Sell Shares to Raise Cash - 01 septembrie 2022
In a business update, they said the company had secured commitments for more than $500 million in financing and could potentially sell as many as 12 million shares of common stock to raise money. They also pledged to overhaul the assortment of goods in the company’s stores, focusing more on national brands after spending millions to develop private-label goods.Bed Bath & Beyond’s stock fell 21% in Wednesday trading, as the plan to sell shares could dilute the holdings of existing shareholders. The stock, a favorite among meme investors, has lost more than half its value over the past two weeks.
(US.BBBY)