Bed Bath & Beyond Inc

Shoppers walk past a Bloomingdale's store in the SoHo neighborhood of New York, US, on Wednesday, Dec. 28, 2022.Victor J. Blue | Bloomberg | Getty ImagesAfter benefitting from a pandemic-era shopping spree, retailers are preparing for a reality check.Walmart and Home Depot will kick off retail earnings season Tuesday by sharing holiday-quarter results. Other big-name retailers will follow, including big-box players like Target and Best Buy, and mall staples like Macy's and Gap.The companies' reports will come as recession…

Shoppers exit Nordstrom at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania.Mark Makela | Getty ImagesShares of Nordstrom surged Friday morning after activist investor and meme stock maven Ryan Cohen bought a major stake in the high-end department store company.The stock rose more than 20% Friday. Cohen is now one of Nordstrom's top five nonfamily shareholders and wants to use his new position to shake up the retailer's board, people familiar with the matter told CNBC. He's interested in…

Signage is seen through an overturned shopping cart outside a Bed Bath & Beyond Inc. store in Greendale, Wisconsin.Daniel Acker | Bloomberg | Getty ImagesBed Bath & Beyond said Thursday it doesn't have enough cash to pay down its debts and it has defaulted on its credit line with JPMorgan, warning once again of a potential bankruptcy.Shares of Bed Bath plunged Thursday afternoon, prompting brief trading halts. The stock closed 22% down with a market cap of about $295 million.In a securities filing, the struggling…

A pedestrian walks by a Bed Bath and Beyond store in San Francisco, California.Justin Sullivan | Getty ImagesCheck out the companies making headlines before the bell.Verizon — Verizon shares slipped 1.51% after the company posted mixed results for the 2022 fourth quarter. While earnings met analyst predictions, forward earnings fell short of a Refinitiv consensus estimate. .Bed Bath & Beyond — The meme stock gained 5.78%, building on its dramatic start to the year, even as the retailer warns of a potential bankruptcy.…

A "Store Closing" banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023.Johnny Milano | Bloomberg | Getty ImagesBed Bath & Beyond is bulking up its team of legal advisors as the troubled retailer preps a potential bankruptcy filing that would take place in New Jersey in the coming weeks, according to people familiar with the matter.The company has hired law firm Cole Schotz to assist in a potential filing in the U.S. Bankruptcy Court in the District of New Jersey, according to the…

Bed Bath & Beyond has been in discussions with prospective buyers and lenders as it works to keep its business afloat during a likely bankruptcy filing, according to people familiar with the matter.The retailer is in the midst a sale process in hopes of finding a buyer that would keep the doors open for both of its major chains, its namesake banner and Buybuy Baby, said the people, who weren't authorized to discuss the matter publicly.At the same time, Bed Bath has also been looking for a lender to provide financing…

In this photo illustration the Disney+ logo seen displayed on a smartphone screen.SOPA Images | LightRocket | Getty ImagesCheck out the companies making headlines in premarket trading.Disney – Disney shares added more than 1% in early morning trading after the company elected independent director Mark Parker as Chairman of the board. It also opposed activist investor Nelson Peltz's attempt to join the board as the two sides prepare for a proxy battle.Bed Bath & Beyond — The retailer advanced 16% premarket, continuing…

Virgin Orbit's LauncherOne rocket on display in Times Square, New York.CNBC | Michael SheetzCheck out the companies making the biggest moves midday:Virgin Orbit — The satellite launch service company fell 13.99% a day after it confirmed its first launch out of the United Kingdom Monday failed to reach orbit. The mission was Virgin Orbit's sixth to date, and its second launch failure.Danaher — Shares of Danaher rose 4.64% after the maker of medical, industrial and commercial products issued upbeat guidance for…

A "Store Closing" banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023.Johnny Milano | Bloomberg | Getty ImagesBed Bath & Beyond has begun its latest round of layoffs, as it fights to stay in business, according to a memo sent to employees Tuesday that was obtained by CNBC.The home goods retailer told employees that it is eliminating the chief transformation officer role, which is held by Anu Gupta, on the same day it reported disappointing fiscal third-quarter results.In the email…

A man is seen at a Bed Bath & Beyond store in New York, on Jan. 5, 2023.Ziyu Julian Zhu | Xinhua News Agency | Getty ImagesBed Bath & Beyond on Tuesday posted wider quarterly losses than expected as its chief executive acknowledged the struggling retailer's turnaround plan had not achieved its goals.Days after the company warned of potential bankruptcy, it painted an even more dire picture of its finances. Bed Bath lost $393 million during the fiscal third quarter, it said Tuesday, worse even than the $385.8…