Bed Bath & Beyond Shares Sink 8.7% After Nasdaq Warning

By Dean Seal

Shares of Bed Bath & Beyond were down 8.7% at $3.46 in premarket trading Friday after the company was warned by Nasdaq that it is not meeting listing requirements to provide a fourth-quarter earnings report to regulators.

The struggling home-goods retailer said after the bell Thursday that it received notice on Jan. 12 that its failure to file a quarterly earnings report with the US Securities and Exchange Commission had taken it out of compliance with Nasdaq’s listing rules.

The notice, which doesn’t have an immediate effect on Bed Bath & Beyond’s stock listing or trading on the Nasdaq, gives the company 60 days to submit a plan to regain compliance. If Nasdaq accepts the plan, the exchange may give the company until July 10 to file fourth-quarter earnings report.

Bed Bath & Beyond said it is working diligently to file the report and regain compliance.

Shares are down more than 72% over the past 12 months. Bed Bath & Beyond said in early January that it was planning more layoffs and bankruptcy as it continues to burn through cash.

Write to Dean Seal at [email protected]

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