Bed Bath & Beyond comes under criticism on Twitter amid bankruptcy filing, reveals GlobalData
April 26, 2023 (Investorideas.com Newswire) Bed Bath & Beyond Inc filed for Chapter 11 bankruptcy protection on 23 April 2023. Following the news, social media (Twitter and Reddit) discussions around the US-based omnichannel big-box home goods retailer have surged dramatically in the last week of April, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.
Smitarani Tripathy, Social Media Analyst at GlobalData, comments: "Bed Bath & Beyond is facing skepticism and controversy on social media for its performance and actions amid bankruptcy filings. Most of the Twitter influencers opine that buying back shares was a toxic financing attempt that plummeted stock prices to all-time lows."
Below are a few popular influencer opinions captured by GlobalData's Social Media Analytics Platform:
1. Neil Saunders, Managing Director of GlobalData Retail, founder of Conlumino:
"Perhaps spending around $11.73 billion buying back shares over the past 10 or so years wasn't such a good idea for Bed Bath & Beyond..."
2. Ed Carson, News Editor at IBD:
"$BBBY the meme stock was weighed down by the irrelevant Bed Bath & Beyond retail operations."
3. Adam Singer, Vice President Marketing at AdQuick:
"Bed Bath & Beyond dying is a surprise to no one. If you went in a retail location over past few years you'd basically be ignored if you even found a team member. Shelves a mess. Meh ecomm. No one really seemed to care from the top down, got sense of a company that had given up.."
4. Steve Dennis, President and Founder of SageBerry Consulting:
"@BedBathBeyond filed for bankruptcy protection after years of losses and a failed turnaround plan @WSJ As expected. It's what can happen when you watch the last 20 years happen to you. The collapse of the unremarkable middle continues apace."
5. Jonah Lupton, Founder of Lupton Capital:
"10 years ago $BBBY had a market cap of $17B+ and today they filed for bankruptcy protection"
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Notes to Editors
- Quotes are provided by Aurojyoti Bose, Lead Analyst at GlobalData
- The information is based on GlobalData’s Financial Deals Database
- This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
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