Cohen’s experience amounts to taking Chewy public and selling it on to Petsmart, which engineered most of its growth. In short, it’s not good news for the company’s shareholders. Analysts on TipRanks think you should sell GME stock. It’s still threatened by cloud gaming, although the fate of Alphabet’s (NASDAQ: GOOGL, NASDAQ: GOOG) Stadia has put that on the backburner. It remains a money-losing chain of stores selling video games and accessories. The company is still going nowhere - revenue for 2021 was 21% less than it was in 2020. If you’re wondering what the future of BBBY stock might be if Cohen gets his way, look no further than Gamestop. Story continues The Bottom Line on BBBY Stock He has also launched high-quality store brands that offer higher margins than the name brand merchandise the company formerly specialized in. He calls it an “omnichannel” experience, with online shopping built into the stores. There, a limited selection of merchandise is arranged thematically rather than piled to the ceiling. Tritton has used asset sales like Cost Plus to raise $400 million for remaking stores, starting with a New York flagship. On the other hand, the company lost $151 million in 2021, 75% less than it lost in 2020. But progress has been slow.īed, Bath & Beyond’s sales fell 17% in 2021, mainly due to its sale of Cost Plus World Market. I have written approvingly of Tritton’s turnaround plan, which includes de-cluttering its locations and bringing in high-quality store brands. He just wants to strip the assets and sell them off for a quick profit. Second, Cohen doesn’t really offer BBBY a turnaround plan. First, the value of any retailing asset is depressed in the current market. ![]() ![]() Then, Cohen wants the main chain sold, implying a private equity buyer with retail experience would grab it.ħ Dividend Stocks to Finance Your Golden Years ![]() InvestorPlace - Stock Market News, Stock Advice & Trading Tips The company had a market cap of $2.2 billion on March 9. Cohen’s letter to the Bed, Bath & Beyond board says the turnaround of CEO Mark Tritton looks “better in a PowerPoint deck than it does in practice.” He wants the company to sell or spin off Buybuy Baby, which he thinks will bring “several billion dollars” based on $1.5 billion in revenue.
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