BBBY - Wayfair Bed Bath & Beyond among stocks to avoid - Wells Fargo

Wells Fargo advised investors to avoid Bed Bath & Beyond (NASDAQ:BBBY), Joann Inc. (NASDAQ:JOAN), and Wayfair (NYSE:W) as retail trends turn more bearish. “As macro screens increasingly dubious, we're sticking with needs-based categories, top-tier execution & limited margin fallout potential,” Equity analyst Zachary Fadem explained.   In his analysis, this placed names like AutoZone (AZO), Tractor Supply Company (TSCO), and O’Reilly Automotive (ORLY) as top picks once again. Meanwhile, names like Best Buy (BBY) and Williams Sonoma (WSM) were more \cautiously viewed given their stark underperformance in recent recessions given the more discretionary nature of their products. However, Fadem saved his most pessimistic reviews for Bed Bath & Beyond (BBBY), Joann Inc. (JOAN), and Wayfair (W) as there remains outsized downside risk for each in his view. “Wrong stock, wrong tape as investor appetite for high growth negative EBITDA/FCF pandemic winners is very low,” Fadem wrote of Wayfair (W). “Add to

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Wayfair, Bed Bath & Beyond among stocks to avoid - Wells Fargo