Stock Market News
Bed Bath & Beyond discloses stock offering plan ahead of strategy update, shares fall
2022.08.31 13:54
FILE PHOTO: Signage is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly/File Photo
(Reuters) – Bed Bath & Beyond Inc (NASDAQ:BBBY) on Wednesday disclosed in a regulatory filing that it could offer more of its common shares, sending the value of its stock down about 20% in premarket trading.
The struggling home goods retailer, which is a favorite among retail traders, did not reveal the size of the potential stock offering.
The company is expected to disclose a roughly $375 million loan later in the day when it provides an update on its turnaround plans.
Its shares have gained more than 13% in the last two sessions in the run-up to the upcoming strategy update.
