BBBY (16.00) was in the $4's just a few weeks ago. They had disasterous May Q1 results, a HUGE loss and a shocking 25% y/y drop in revenue. The only reason for the 250% rally is because it has become a MEME stock. Who knows how that will play out ??? It's a junk stock.
briefing
Bed Bath & Beyond misses by $3.10, misses on revs (6.53 ) :
Reports Q1 (May) loss of $4.49 per share, $3.10 worse than the S&P Capital IQ Consensus of ($1.39); revenues fell 25.1% year/year to $1.46 bln vs the $1.51 bln S&P Capital IQ Consensus.
Outlook -- At this time, the Company is providing the following outlook parameters for Fiscal 2022:
Sequential Comparable1 Sales recovery to occur in the second half of Fiscal 2022 versus the first half of Fiscal 2022 driven by inventory optimization plans, including incremental clearance activity
Adjusted SG&A expense for Fiscal 2022 below last year, reflecting aggressive actions to align cost structure to sales
Capital Expenditures of approximately $300 million (from $400 million previously) for Fiscal 2022, reflecting a minimum reduction of $100 million
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