Bed Bath is back, baby
Getting a 2nd life... If this retailer were a video game, it would be called Bed Bath & Respawned. Bed Bath & Beyond, the company famous for dorm decorations, massive coupons, and being featured in an early 2000s Adam Sandler movie, is back. The stock surged 25% yesterday on a brand-reviving earnings report:
This isn't just about "House Hype"... BBB was actually late to benefit from the lockdown "House Hype," following the success of Lowe's and Home Depot. BBB thrived thanks to digital innovation:
This is a narrative-changing earnings report... Investors thought Bed Bath & Beyond was stagnant and dying. Until this report, the stock was worth over 80% less than it was in 2015. While it's still worth 67% less than the 2015 price, these earnings convinced many investors that BBB can succeed in a modern, remote world. So the stock majorly soared.