Bed Bath & Beyond Inc.
said Thursday afternoon that it plans to hold a conference call Aug. 31 at 8:15 a.m. Eastern to offer a “business and strategic update.” Bed Bath & Beyond has seen growing interest in recent weeks as meme-stock investors have shown a clamoring for the name. “We recognize the strong interest in our company and our plans to better serve customers, recapture market share, drive growth and profitability, ensure our vendors are supported, and strengthen our balance sheet,” Chief Executive Sue Gove said in a Thursday release. “We look forward to providing an update on our business next week, including a preview of strategies and changes being implemented across the enterprise to deliver results for all stakeholders.” The company had disclosed in a filing last week that it was working with financial advisers and lenders on ways to strengthen its balance sheet and that it would offer more details at the end of the month. While an analyst recently expressed caution about Bed Bath’s cash position, a Wednesday Wall Street Journal report indicated that the company had found a lender. Shares of Bed Bath were up 2.5% in after-hours trading Thursday. The stock has risen 100% over the past month, though it’s down 65% over 12 months.
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