Bed Bath & Beyond said there is doubt about its ability to keep operations funded as sales continue to fall. Shares dropped more than 18% premarket.
Bed Bath & Beyond Inc.
said Thursday that there is doubt about its ability to keep operations funded, as sales continue to fall amid inventory woes and flagging customer traffic atShares plunged more than 18% premarket after the company said that it is considering several options, including seeking relief in bankruptcy court. It said that sales for its third quarter are expected to fall by nearly a third and that losses are seen widening nearly 40% to $385.8 million.
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