Bed Bath & Beyond will hold a call on August 31 to discuss strategic updates
Bed Bath & Beyond Inc. BBBY,
said Thursday afternoon that he plans to hold a conference call Aug. 31 at 8:15 a.m. EST to offer a “business and strategy update.” Bed Bath & Beyond has seen growing interest in recent weeks as meme stock investors have shown demand for the name. “We recognize the strong interest in our business and our plans to better serve customers, regain market share, drive growth and profitability, support our suppliers and strengthen our balance sheet,” said Chief Executive Sue Gove. in a statement Thursday. “We look forward to providing an update on our activities next week, including an overview of the strategies and changes being implemented across the company to deliver results for all stakeholders.” The company had revealed in a filing last week that it was working with financial advisers and lenders on ways to strengthen its balance sheet and 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 said the company had found a lender. Shares of Bed Bath rose 2.5% in after-hours trading on Thursday. The stock is up 100% in the past month, although it is down 65% year-over-year.