TGT - Bed Bath & Beyond Is Down 98% From Its High. Time to Buy?
Just over nine years ago, Bed Bath & Beyond 's (NASDAQ: BBBY) stock closed at its all-time high of $69.76 per share. At the time, the big box retailer's comparable store sales and earnings were rising, it was consistently returning its cash to investors via big buybacks, and its inventory levels were stable.
But today its stock trades 98% lower at less than $2 a share. Over the years, it fell behind Amazon , Walmart , Target (NYSE: TGT) , and other better-run retailers. It failed to renovate its stores, refresh its products, and expand its e-commerce platform, and it relied too heavily on coupons and markdowns to drive its sales.
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Bed Bath & Beyond Is Down 98% From Its High. Time to Buy?