Party City didn't return Yahoo Finance's request for comment on a potential bankruptcy filing.īrian Sozzi is an editor-at-large and anchor at Yahoo Finance. The stock has lost about 97% in the past five years. The company could enter bankruptcy within weeks, the report said. 11, Bloomberg reported the company was seeking debtor-in-possession (DIP) funding to keep its business afloat during the bankruptcy process. 6 that the retailer was preparing to file for bankruptcy in an effort to cut more than $1.3 billion in debt, sending the shares spiraling lower. Gove reiterated on Tuesday that all options remain on the table to save the retailer. Aside from store closures, the company plans to lay off even more corporate workers.īed Bath & Beyond recently said bankruptcy was on the table as it works to shore up its tattered balance sheet after the disastrous holiday shopping season. In an approximate 10-minute earnings call with no analyst questions, Bed Bath & Beyond CEO Sue Gove outlined $80 million to $100 million more in cost cuts. Only $153.1 million in cash on the balance sheet. Net sales crashed 33% from the prior year.Ĭomparable digital sales fell a whopping 33%.īed Bath & Beyond banner comparable sales plunged 34%.īuyBuyBaby banner comparable sales tanked in the "low 20" percentage area. Here are seven numbers that stood out to Yahoo Finance: Bed Bath & Beyondīed Bath & Beyond continues to struggle mightily: The ailing retailer released its long-awaited holiday quarter results on Tuesday, and the picture was not pretty. Here's each company's current state of play. Party City stock surged more than 15% in early Wednesday trading after the stock boomed 117% on Tuesday, making it one of the hottest tickers on the Yahoo Finance platform.
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