$BBBY reported earnings yesterday and the market liked what was said on the earnings call. The stock is trading up pre-market and we think the worst is over for the company. A lot of the enthusiasm is the turnaround being put in place by the new CEO, who was former CMO of $TGT. For example, the Bed Bath &Beyond digital business is seeing net sales growth of more than 90% for the month of April to-date.
$BBBY is well-positioned to weather the coronavirus crisis. The Company ended fiscal 2019 with approximately $1.4 billion in cash and investments, an increase of approximately 39%, compared with approximately $1.0 billion in cash and investments at the end of fiscal 2018.
We look at $BBBY as a long-term play and will buy any pullbacks.
Good luck to all!
$BBBY is well-positioned to weather the coronavirus crisis. The Company ended fiscal 2019 with approximately $1.4 billion in cash and investments, an increase of approximately 39%, compared with approximately $1.0 billion in cash and investments at the end of fiscal 2018.
We look at $BBBY as a long-term play and will buy any pullbacks.
Good luck to all!
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/