Bed Bath & Beyond cost cuts set retailer up for better 2nd half -investor

STORY: Bed Bath & Beyond on Wednesday said it inked deals for more than $500 million in new financing and that it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.

August has been a roller coaster month for both retail investors and short sellers covering the embattled retailer.

Shares fell 25% on Wednesday but were still up about 86% so far this month and on track for their biggest monthly gain since January 2021. However, the stock price was well below its most recent intraday high of $30 reached on August 17.