Pre-Open Movers: Bed Bath & Beyond Sinks on Update, PayPal Gains on Upgrade

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Bed Bath & Beyond (BBBY) Announces Changes, But 'Fundamentals Remain Challenged'

August 31, 2022 2:11 PM EDT

On Wednesday, Bed Bath & Beyond (NASDAQ: BBBY) announced a strategic change to drive growth and profitability and improve its balance sheet and cash flows.

The struggling company, which has been the focus of meme traders over the last few weeks, said they are embracing a straightforward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns.

It announced several measures, including job cuts, store closures, and a stock offering, in an attempt to... More