Bed Bath & Beyond’s Future Hangs in the Balance
Bed Bath & Beyond has investors worried, prompting a few activist investment groups to demand changes that may be the company’s only hope.
As part of those changes, Bed Bath & Beyond has shaken up its board and embarked on the search for a new CEO. In addition, the company has numerous cost-cutting measures in view. It’s all part of what investors hope will be the solution to what is looking like an increasingly desperate situation.
Over the last 12 months, shares of the company have fallen more than 50%. Things have not improved since the activists got involved. Shares fell from a closing price of $16.92 on March 26, when the group announced its stake, to a closing price of $9 on Aug. 1.