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Fly News Breaks for February 12, 2020
BBBY
Feb 12, 2020 | 06:10 EDT
Loop Capital analyst Anthony Chukumba lowered his price target on Bed Bath & Beyond to $12 and kept his Hold rating after the company's much worse than expected Q4 update, raising the question of whether the new CEO Mark Tritton made a mistake in replacing the entire senior management team. With two-month comps down 5.4% and gross margins declining about 300bps, Chukumba considers whether Bed Bath & Beyond "patient is too far gone", even as the management cited product availability behind the quarter's issues.
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