What Does Bed Bath and Beyond Over A Billion Behind Mean For NH?
Bed Bath and Beyond has joined the growing list of retailers struggling to keep up in a world dominated by Amazon. Stocks have hit a 10 year low, and if the trend continues, restructuring may be in order.
According to an article on CNN, Credit ratings agency Standard & Poor's cut its rating on Bed Bath & Beyond yesterday to the lowest that S&P still considers investment grade. The news could get worse, as they (S&P) warned that it could soon downgrade their bonds to junk, if "the company cannot stabilize operating performance in the face of continued intense competition from online retailers."
The company's long term debt stands at 1.5 billion, and the downgrade could make it harder to pay interest of that debt.
The news isn't all bad. According to the article, the company remained upbeat about its future in its recent earnings report. It even boosted its dividend payment to shareholders.
The company operates many locations in New Hampshire. With recent closures by Toys-R-Us, and other retails, a close eye will be kept on the company for the foreseeable future.