In announcing its fourth quarter and final yearly numbers earlier this week Bed Bath & Beyond had much encouraging news but also some signs that it still has a long way to go to fix itself after years of neglect. But it was the latter rather than the former that Wall Street reacted to on earnings day, sending the stock crashing down some 12% and the slide continued the morning after. I don’t get it. Yes, BBB must improve but from this perspective at least it seems to be on its way. It all may not work — it never does — but I can’t point to much and say that’s not what I would do if I were running the place. Wall Street’s obsession with the short-term is ultimately destructive for businesses, a bad way to understand a company’s worth and, in the end, just plain Stupid.
You judge for yourself, here’s my take on their financial results: https://www.forbes.com/sites/warrenshoulberg/2021/04/14/bed-bath–beyond-q4-continues-its-big-rebuild/?sh=2e73c0ce2e1a