Bed Bath and Beyond (BBBY) Stock Price and Forecast: Don’t get caught napping!


  • Strong start to 2021, another short being squeezed?
  • BBBY presents mixed results but changes to business model planned.
  • New CEO Mark Tritton is committed to a turnaround plan.

Bed Bath & Beyond (BBBY) is a traditional brick and mortar retail focusing on, you guessed it, home furnishings, bed linens and bathroom products. BBBY has over 1,500 operating primarily in the US and Canada. BBBY also operates numerous online stores under the Bed Bath & Beyond name as well as subsidiaries.

BBBY stock news: Coronavirus hits in-store sales but boosts online

The last results for BBBY for Q3 2020 showed slowing growth in sales as the COVID-19 impact was evident across the retail space. Total sales fell 5% year on year (YoY) but online sales rose nearly 80% over the same quarter. 

New CEO Mark Tritton has pushed through with his digital-first strategy with new executive appointments. In Q3 2020, BBBY gained 2.2M new online customers and nearly 7 million new customers for the year. Increasing web speed, the introduction of buy-online pick up in-store and pushing BBBY’s online shopping app all helped the online segment.

A strong start to 2021

BBBY shares are up a whopping 55% so far in 2021. New appointments to the marketing department with hires from Macy’s and Target, coupled with a renewed push on marketing and communication spending boosted confidence in the new strategy. Hopes for a swift rebound in the economy and stimulus spending plans under President Joe Biden will also have helped. 

Is there more to it than that?

BBBY has in 2021 been one of the most heavily trending stocks among retail investors, gaining mentions from Jim Crammer in December and being heavily discussed on the /wallstreetbets reddit site. BBBY has a strong short position with as much as 60% of shares of BBBY sold short.

Bed Bath & Beyond (BBBY) technical analysis

BBBY was up strongly on Thursday, closing over 7% higher. The MACD crossed on January 4 giving a bullish signal. BBBY broke its late-2020 old high of $26.16 and needs to stay above this level to keep the shorter-term bullish trend intact. A move lower for BBBY would have $17.75 as key support.  

BBBY stock price chart

 

The author has no position in any stock mentioned in this article and no business relationship with any company mentioned.  The author has received compensation for writing this article. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to do your own research before making any investment and take independent advice from a registered investment advisor. This article is for information purposes only. We/I do not provide personalized recommendations. I make no representations as to accuracy, completeness, the suitability of this information. I will not be liable for any errors, omissions or any losses, injuries or damages arising from this information display or use. I will not be held responsible for information that is found at the end of links posted on this page. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Bulls target 100-DMA again ahead of Eurozone PMIs

EUR/USD is back on the bid above 1.2000, snapping three straight days of sluggishness. The US dollar has resumed its downtrend, helping the spot to make another attempt towards 1.2050. Eurozone/US PMIs awaited after a non-event ECB.

EUR/USD News

GBP/USD: Looks to UK Retail Sales, PMI to regain 1.3900

GBP/USD stays mildly bid above 1.3850, as the US dollar retreats across the board. Covid vaccine updates and upbeat UK data outweigh renewed Brexit jitters. Focus shifts to the UK Retail Sales and PMIs.

GBP/USD News

EUR/USD: Bulls target 100-DMA again ahead of Eurozone PMIs

EUR/USD is back on the bid above 1.2000, snapping three straight days of sluggishness. The US dollar has resumed its downtrend, helping the spot to make another attempt towards 1.2050. Eurozone/US PMIs awaited after a non-event ECB.

EUR/USD News

Gold remains two steps away from $1800 and beyond

Gold (XAU/USD) is attempting a tepid bounce after falling 1% on Thursday amid a sharp recovery staged by the US dollar. Risk-aversion gripped the markets on Bloomberg report that the Biden administration is proposing higher taxes on the wealthy to pay for its social plan.

Gold News

Lagarde cautiousness & Biden's taxes

All market chatter is about Biden's taxes & their impact on shares and cryptos. But let's discuss that ECB decision first-- The economic outlook is improving in Europe, yet you wouldn't know it from Lagarde's Thursday comments after the ECB decision.

Read more

Forex MAJORS

Cryptocurrencies

Signatures