{"id":1805456,"date":"2023-01-14T06:50:33","date_gmt":"2023-01-14T11:50:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1805456"},"modified":"2023-01-14T06:52:04","modified_gmt":"2023-01-14T11:52:04","slug":"bed-bath-beyond-reportedly-selling-assets-to-private-equity-firm","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bed-bath-beyond-reportedly-selling-assets-to-private-equity-firm\/","title":{"rendered":"Bed Bath &amp; Beyond Reportedly Selling Assets to Private Equity Firm"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbed-bath-beyond-reportedly-selling-assets-to-private-equity-firm%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1805456&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Mark Mahaney, Senior Managing Director at Evercore ISI, gives an outlook on tech stocks before the earnings release<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Bed Bath &#038; Beyond <a href=\"https:\/\/www.foxbusiness.com\/category\/mergers-and-acquisitions\" target=\"_blank\" rel=\"noopener\">Selling assets<\/a> Sycamore Partners, a private equity firm, ahead of a <a href=\"https:\/\/www.foxbusiness.com\/category\/bankruptcy\" target=\"_blank\" rel=\"noopener\">Possible bankruptcy filing<\/a>The <a href=\"https:\/\/www.nytimes.com\/2023\/01\/13\/business\/bed-bath-beyond-bankruptcy-assets.html\" target=\"_blank\" rel=\"nofollow noopener\">New York Times reported<\/a> Friday<\/p>\n<p>Alongside other key assets, the retailer\u2019s Buy Buy Baby stores will reportedly be cut free after showing another dip in sales over the third quarter, according to the article.<\/p>\n<p>The Union, New Jersey-based firm had previously considered selling its Buy Buy Baby stores following shareholder pressure but decided to hold off in the hope that it could fetch a better price later on, Reuters reported.<\/p>\n<p>Bed Bath &#038; Beyond secured a loan of $375 million from the company&#8217;s buybuy Baby Chain, which sells products to infants and toddlers.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/markets\/bed-bath-beyond-bankruptcy-could-happen-this-month\" target=\"_blank\" rel=\"noopener\"><strong>BED BATH &#038; BEYOND BANCRUPTCY COULD HAPPEN \u2018THIS MONTH\u2019<\/strong><\/a><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2023\/01\/931\/523\/buybuybaby01.jpg?ve=1&#038;tl=1\" alt=\"Buy BuyBaby store exterior with cart return rack\"   style=\"display:none\"><\/div>\n<div class=\"caption\">\n<p><span>Cherry Hill, N.J. Jan. 8, 2023.<\/span><span> (Fox News)<\/span><\/p>\n<\/div>\n<\/div>\n<p>FOX Business was informed Friday by a spokesperson for Bed Bath &#038; Beyond. &#8220;As is our practice, we do not comment on speculation of this nature.&#8221;<\/p>\n<p>&#8220;We remain committed to updating our key stakeholders as we collectively work to execute our near- and long-term goals for the future,&#8221; According to the spokesperson.<\/p>\n<p>However, Sycamore Equity Group, a New York-based equity group, declined to comment on the possible sale. Sycamore is an investor in retailers and consumer goods businesses. The takeover of Kohl&#8217;s Corp, a department store chain, was a major news story last year.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/markets\/bed-bath-beyond-following-meme-phenomenon-avoid-bankruptcy\" target=\"_blank\" rel=\"noopener\"><strong>BED BATH &#038; BEYOND FOLLOWING \u2018MEME PHENOMENON\u2019: CAN IT BE ENOUGH FOR BANKRUPTCY TO BE AVOIDED?<\/strong><\/a><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2023\/01\/931\/523\/bedbathbeyond05.jpg?ve=1&#038;tl=1\" alt=\"Bed Bath &#038; Beyond store\" \/><\/div>\n<div class=\"caption\">\n<p><span>Cherry Hill, N.J.: Bed bath and Beyond store, Jan. 8, 20,23<\/span><span> (Fox News)<\/span><\/p>\n<\/div>\n<\/div>\n<p>After announcing last week that it was considering bankruptcy as it struggles with its cash pile, the troubled retailer of home goods posted a larger-than-expected quarterly loss on Tuesday.<\/p>\n<p>The fiscal third quarter loss, which ended on Nov. 26, was $393m more than the $276.4m it earned a year ago. It also included a $100.7million impairment charge which indicated that the inventory&#8217;s value was lower than its initial estimates.<\/p>\n<p>Wall Street had estimated a loss of $2.23 per share. The retailer reported an adjusted loss at $3.65 per share.<\/p>\n<p>The retailer&#8217;s cash and cash equivalents fell steeply to $153.5million, from $509million. This makes it difficult to acquire more merchandise.<\/p>\n<p>Net sales decreased 33% to $1.26 Billion<\/p>\n<p>Placer.ai data shows that foot traffic declined 23.1% between November and the previous year.<\/p>\n<p>Inventory dropped by quarter to $1.44 trillion in the third quarter after Wild Sage, a retailer that owns Wild Sage brands, was forced to discontinue some of its brands and offered huge Black Friday discounts to sell merchandise.<\/p>\n<p>Despite ongoing rumors to the contrary, shares for Bed Bath &#038; Beyond exploded last week. They jumped 248% over the past five days. <a href=\"https:\/\/www.foxbusiness.com\/markets\/bed-bath-beyond-following-meme-phenomenon-avoid-bankruptcy\" target=\"_blank\" rel=\"noopener\">traders began shorting<\/a> Stock<\/p>\n<p><i>This report was compiled by Reuters<\/i><\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/apps-products\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/strong><\/a><\/p>\n<div>\n<div id=\"embed\">\n<p><strong>Bed Bath &#038; Beyond<\/strong><\/p>\n<\/div>\n<p>.<\/p><\/div>\n<table class=\"stock-fundamentals\">\n<thead>\n<tr>\n<th class=\"ticker\">Ticker<\/th>\n<th class=\"security\">Security<\/th>\n<th class=\"last\">Last<\/th>\n<th class=\"change\">Change<\/th>\n<th class=\"percent\">Change %<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td class=\"ticker\"><a href=\"https:\/\/www.foxbusiness.com\/quote?stockTicker=BBBY\">BBBY<\/a><\/td>\n<td class=\"security\">BED BATH AND BEYOND INC.<\/td>\n<td class=\"last\">3.66<\/td>\n<td class=\"change neg\">-1.58<\/td>\n<td class=\"percent neg\">-30.15%<\/td>\n<\/tr>\n<tr><\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Mark Mahaney, Senior Managing Director at Evercore ISI, gives an outlook on tech stocks before the earnings release Bed Bath &#038; Beyond Selling assets Sycamore Partners, a private equity firm, ahead of a Possible bankruptcy filingThe New York Times reported Friday Alongside other key assets, the retailer\u2019s Buy Buy Baby stores will reportedly be cut &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1805459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[12450,12555,8398,5458,10708,5246,4070,3819,4292,7333],"class_list":["post-1805456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-assets","tag-bath","tag-bed","tag-bongino","tag-equity","tag-firm","tag-private","tag-report","tag-reportedly","tag-selling"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1805456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1805456"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1805456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1805459"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1805456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1805456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1805456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}