Bed Bath & Beyond Inc BBBY Shares are trading up 23.38% at $0.45 on Friday afternoon after the company recently raised $300 million in its market offering program and issued weak fourth-quarter guidance.
What else?
Bed Bath & Beyond has entered into a common stock purchase agreement and a registration rights agreement with B. Riley Principal Capital II LLC for additional capital.
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The company also presented preliminary financial results for the fourth quarter of fiscal 2022 with net sales of approximately $1.2 billion (consensus $1.43 billion), a comparable sales decline in the range of 40% to 50%, continued negative operating losses and a modest use of free cash flow.
According to Bed Bath & Beyond, the company has not yet completed its fourth quarter and full year financial statements and plans to report its full results in late April 2023.
According to data from Gasoline ProBBBY has a 52-week high of $30.00 and a 52-week low of $0.45.
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