Bed Bath & Beyond's Looming Bankruptcy Threatens Stock.
Bed Bath & Beyond's stock is down by 6.53% due to weak Q4 guidance and a $300 million at-the-market offering program. The company was also sued by former CEO Mark Tritton for failing to honor his severance agreement. Bed Bath & Beyond has entered into a common stock purchase agreement and a registration rights agreement with B. Riley Principal Capital II LLC for additional capital. The company provided preliminary financial results for Q4 2022, with net sales of approximately $1.2 billion, a comparable sales decline in the 40% to 50% range, negative operating losses, and modest free cash flow usage.
