Special Situations
BBBY: Use Fall to Accumulate Shares as Early Signs of a Turnaround Become Visible
A revamped board and new CEO were the first steps taken by a trio of activists in early 2019 when they began the turnaround at specialty retailer Bed Bath & Beyond, Inc. (BBBY). Our investment thesis centers around this industry veteran CEO's track record (similar to our previous calls on Brink's Co. (BCO) and Tableau Software, Inc. (DATA), with further details in our full analysis. The price drop from yesterday's earnings provides another buy level for this turnaround in action.

  • Earnings Miss Results in -18% Price Drop / Investors Recommended to Accumulate BBBY at Current Levels
  • 80.4% of New CEO Mark Tritton's Compensation is Incentivized Toward Share Price Appreciation
  • Early Signs of Turnaround from Sales Improvement over Thanksgiving to Cyber Monday
  • Final Turnaround Plan to be Disclosed in Spring 2020 / Focused on Balance Between Sales & Margins
  • Target Price Maintained / BBBY is a Current Special Situations Model Portfolio Holding
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