Shares of the home goods retailer Bed Bath & Beyond (NASDAQ: BBBY) are down significantly today after the company announced plans to sell more shares to raise money while looking to save money by closing stores and cutting its staff. In addition, BBBY's preliminary Q2-2022 results are disappointing. Bed Bath & Beyond claims to have secured over $500 million in financing and plans to issue no more than 12 million shares to help repay its long-term obligations, which stood at roughly $1.4 billion as of its last report. Regarding cost-cutting, BBBY intends to shut down 150 stores and let go of 20% of its staff.
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Bed Bath and Beyond (NASDAQ:BBBY)
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