Bed Bath & Beyond call volume above normal and directionally bullish » 12:0505/2105/21/20
Bullish option flow…
Bullish option flow detected in Bed Bath & Beyond with 18,365 calls trading, 1.9x expected, and implied vol increasing over 7 points to 110.74%. Jun-20 6.5 calls and Jun-20 7 calls are the most active options, with total volume in those strikes near 6,000 contracts. The Put/Call Ratio is 0.15. Earnings are expected on July 8th.
|Over a week ago|
FedEx limits how much retailers can ship from stores amid COVID-19, WSJ says » 09:2805/1405/14/20
FDX, KSS, JWN, ANF, BBBY, GRPN
FedEx (FDX) has…
FedEx (FDX) has restricted the number of items that roughly two dozen retailers can ship from certain locations, as it attempts to prevent workers from being overwhelmed during the COVID-19 pandemic, Paul Ziobro of the Wall Street Journal reports. Most retailers have seen e-commerce sales spike since they were forced to close stores, a change that has inundated FedEx's delivery network. Companies have converted stores into makeshift warehouses to help fulfill more orders which has interrupted the process of customers receiving online shipments straight from FedEx distribution centers. Businesses with shipping limits include department stores like Kohl's (KSS) and Nordstrom (JWN), retailers like Abercrombie & Fitch (ANF) and Bed Bath & Beyond (BBBY), and other sellers like Groupon (GRPN). Reference Link
Bed Bath & Beyond names Cindy Davis Chief Brand Officer, President of Decorist » 16:1905/1305/13/20
Bed Bath & Beyond…
Bed Bath & Beyond (BBBY) announced the appointment of Cindy Davis as Executive Vice President, Chief Brand Officer of Bed Bath & Beyond and President, Decorist, effective May 26. Davis will report directly to Mark Tritton, Bed Bath & Beyond's President & CEO. Davis will join the company from L Brands (LB), where she currently serves as EVP and Chief Digital Marketing Officer.
Bed Bath & Beyond extends store closures, furloughs » 16:1705/0805/08/20
Bed Bath & Beyond…
Bed Bath & Beyond Inc. provided an update to its COVID-19 response, including the actions it is taking to expand its omnichannel services to customers, and the measured steps it is taking to re-open stores to the public and strengthen the business for the long-term. On April 24, 2020, the company extended the temporary closure of all its retail banner stores across the US and Canada, other than its buybuy BABY and Harmon Face Values (stores, until at least May 16, 2020. Based on the latest guidance from federal, state and local government and health authorities, Bed Bath & Beyond is providing Buy-Online-Pick-Up-In-Store and contactless curbside delivery services to customers at a number of store locations across the US and Canada. Today, the company announced plans to further expand these store fulfillment services, and to initiate a phased approach to fully re-open a number of stores, subject to state and local regulations. The Company expects the majority of stores across its retail banners to remain closed to the public until at least May 30, 2020. The approach to re-opening stores will include the following measured steps: Expand BOPIS and contactless curbside pickup services to at least 200 additional locations, taking the total number of locations that offer these services to approximately 750 stores, or approximately 50% of the company's total store fleet across the US and Canada; Continue to expand its fulfilment capabilities to support increased demand across its digital channels, enabling the company to ship online orders in two days or less on average, or make orders available for pick-up in less than two hours for customers using BOPIS and contactless curbside services; In addition to its BABY and Harmon stores that have remained open to provide essential goods throughout this period, the company intends to gradually re-open its other retail banner stores to the public, starting with approximately 20 stores, including its Bed Bath & Beyond and Christmas Tree Shops stores, by May 22, subject to state and local regulations; Implement a new Store Safety Plan to promote a safe shopping experience across all stores scheduled to re-open to customers, enhancing existing safety protocols across its operations. The introduction of contactless curbside services and the measured approach to re-opening stores to the public is taking place at locations already providing regional fulfilment services, leveraging existing labor to limit the exposure to additional costs. In conjunction with the decision to further extend temporary store closures, Bed Bath & Beyond will also extend the furlough of the majority of store associates and a portion of corporate associates until at least May 30, 2020. The Company will continue to pay 100% of the cost of healthcare premiums for all furloughed associates who currently participate in the Company's health plan, until further notice.
Largest borrow rate increases among liquid names » 08:4505/0505/05/20
X, BBBY, CEQP, NEPT, TELL, OAS, MAIN, SAND, DUST, TRIL
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: US Steel (X) 10.69% +1.47, Bed Bath & Beyond (BBBY) 3.69% +0.85, Crestwood Equity (CEQP) 1.94% +0.48, Neptune Technologies (NEPT) 55.92% +0.43, Tellurian (TELL) 14.74% +0.43, Oasis Petroleum (OAS) 3.75% +0.35, Main Street (MAIN) 16.06% +0.33, Sandstorm Gold (SAND) 1.32% +0.28, Gold Bear 3x (DUST) 5.29% +0.23, and Trillium Therapeutics (TRIL) 2.91% +0.20.
Bed Bath & Beyond call volume above normal and directionally bullish » 12:0505/0405/04/20
Bullish option flow…
Bullish option flow detected in Bed Bath & Beyond with 13,542 calls trading, 1.2x expected, and implied vol increasing over 7 points to 113.47%. May-20 6 calls and 5/8 weekly 6 calls are the most active options, with total volume in those strikes near 8,000 contracts. The Put/Call Ratio is 0.32. Earnings are expected on July 8th.
Bed Bath & Beyond put volume heavy and directionally bearish » 12:3505/0105/01/20
Bearish flow noted in Bed…
Bearish flow noted in Bed Bath & Beyond with 16,170 puts trading, or 1.7x expected. Most active are Jan-21 4 puts and 5/1 weekly 6 puts, with total volume in those strikes near 11,600 contracts. The Put/Call Ratio is 2.39, while ATM IV is up nearly 9 points on the day. Earnings are expected on July 8th.
Bed Bath & Beyond names Gustavo Arnal as new CFO » 16:1804/3004/30/20
BBBY, AVP, WBA, PG
Bed Bath & Beyond…
Bed Bath & Beyond (BBBY) appointed Gustavo Arnal as Executive Vice President, CFO & Treasurer, effective May 4. Arnal joins the company following his previous role as Group CFO of Avon (AVP), prior to which he held senior positions at Walgreens Boots Alliance (WBA) and Procter & Gamble (PG). Bed Bath & Beyond's current CFO & Treasurer Robyn D'Elia is departing the company.
Early notable gainers among liquid option names on April 28th » 09:5504/2804/28/20
HOG, M, BBBY, ADS, PVH
Notable gainers among…
Notable gainers among liquid option names this morning include Harley Davidson (HOG) $21.92 +2.98, Macy's (M) $6.26 +0.76, Bed Bath & Beyond (BBBY) $7.18 +0.77, Alliance Data (ADS) $46.33 +4.94, and PVH Corp. (PVH) $53.04 +5.40.
Unusually active option classes on open April 28th » 09:4004/2804/28/20
FXE, HBI, MMM, HOG, M, XLK, BBBY, UPS, HSBC, PFE
Unusual total active…
Unusual total active option classes on open include: Euro ETF (FXE), HanesBrands (HBI), 3M (MMM), Harley Davidson (HOG), Macy's (M), Technology Sector SPDR ETF (XLK), Bed Bath & Beyond (BBBY), UPS (UPS), HSBC (HSBC), and Pfizer (PFE).