Bed Bath & Beyond to outline turnaround strategy next week, shares rise

Sixth Street Specialty Lending

26/08/2022 14:27

** Bed Bath & Beyond Inc  BBBY.O  shares up 4.3% at $10.53
premarket as struggling retailer announces details for its
business update 
    ** BBBY after the bell Thurs said, as previously stated, it
will conduct conf call on Aug 31 at 8:15 am EDT  urn:newsml:reuters.com:*:nPn18lxl3a
    ** "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," interim CEO Sue Gove said in
statement
    ** BBBY nearing final terms with investment firm Sixth
Street to provide co ~$370 mln loan, Reuters reported late Weds,
citing a person familiar with the matter  urn:newsml:reuters.com:*:nL4N3003LC
    ** Shares jumped ~18% during trading session on Weds on
reported loan deal  urn:newsml:reuters.com:*:nFWN2ZZ1Y6
    ** Still, stock has lost ~31% YTD through Thurs close

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))