BBBY, or Bed Bath and Beyond, stock soared as Ryan Cohen, the GameStop Board chairman, bought a nearly 10% stake in the company.
In 2019, the company hired CEO Mark Tritton from Target, who installed a new leadership team and implemented new strategies like store renovations and culling back on the number of product options.
The retailer did enjoy a bump from homebound shoppers redecorating during the pandemic, but its turnaround has stalled in recent months. In January, the company posted a quarterly sales decline even as rivals enjoyed big gains. Bed Bath & Beyond said it was hit hard by supply chain disruptions.The video in the player above is from an earlier report.
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