The so-called “meme stocks” are back. But $BBBY is actually a fundamentally strong company, with improving long-term growth prospects and the realistic potential to earn more than enough profit to warrant an even bigger valuation down the road. The retailer is undergoing many changes, including revamping stores, rightsizing the real estate footprint and investing in e-commerce. The retailer has also built omni-channel capabilities like BOPIS (buy-online, pick-up-in-store), while significantly reducing its operating expenses and retooling the supply chain to improve its gross margins. Even amid the Covid-19 pandemic, Bed Bath & Beyond has rattled off three consecutive quarters of positive comparable sales growth. BBBY has the potential to climb above $70 within the next few years as the company’s big turnaround plays out.
shuttering a few stores out here in my neck of the woods. ------------------ Bed Bath & Beyond stock price target cut to $9.50 from $11.50 at BofA Securities 9:46 am ET January 7, 2022 (MarketWatch
