Bed Bath & Beyond (NASDAQ: BBBY) is still in the process of talking to potential acquirers on potential sales of parts of the business and with lenders on financing options with its survival hanging in the balance. In particular, Sycamore Partners is one of the interested parties in the Buybuy Baby business, according to some media reports. Meanwhile, Authentic Brands is said to eyeing the intellectual property held by Bed, Bath & Beyond.
For its part, the retailer has only confirmed that it is working with strategic advisers to evaluate all paths to regain market share and enhance liquidity. "Multiple paths are being explored and we are determining our next steps thoroughly, and in a timely manner," noted a spokeswoman on Wednesday.
Shares of Bed, Bath & Beyond fell 10 cents, or 2.5%, to $3.84 early Thursday as the bouncy trading continues on the highly-shorted stock. Volume is still sky high on the stock with over 112 million shares swapping hands during the session. Last week, BBBY recorded its biggest weekly gain ever on speculative betting on the retail stock.
During the BBBY earnings call on January 10, execs were still talking about the potential of a turnaround this year. CEO Sue Grove said the company has seen "significant sales trend improvements on both the sequential and year-over-year basis" where in-stock levels have improved to a more normalized range, particularly related to the Bed Bath circular items and with the Buybuy Baby business.
