THE WHAT? Bed Bath & Beyond is said to expect up $450 million in asset sales, as it looks to a restructure plan in a bid to boost the company, according to a report by Bloomberg.
THE DETAILS The move will mark another milestone for the company as it looks to overcome falling sales amidst the coronavirus pandemic, as well as increasing competition from discount chains and e-commerce giants.
Company sales have fallen 55 percent this year, however, shares of the company rose 1.5 percent following the news.
THE WHY? According to a filing, Bed Bath & Beyond is looking at divestitures and to sell off ‘non-core assets’ in order to be able to place a better focus on growth opportunities in beauty, wellness, home and baby.