Shares of the Bed Bath & Beyond Inc. (BBBY) stock were rising in the per market today on June 24, 2021, following the news that Bed Bath & Beyond launched Wild SageTM, the fifth private brand this year. The BBBY stock price saw a rise of 5.97% to reach $31.06 a share as of this writing. The stock was bullish in the previous trading session and went up by2.27% at closing. Let’s deep dive to explore more of it.
What’s Happening?
Bed Bath & Beyond Inc, founded in 1971, is a retail seller of merchandise products. The stock on June 23, 2021, launched Wild SageTM brand which consists of a wide variety of décor, bedding, furniture, and bathing products for adults. Without compromising the quality, the products are available at reasonable prices. Bedding prices range from $20 to 80$, the decor is priced from $25 to $200, prices for table linens are between $5 to $25, and $50 to $150 prices are set for furniture.
Customers can purchase Wild Sage products both offline and online. Customers can purchase their favorite products across the stores of the U.S and Canada through same-day delivery services and BBBY’s omnichannel services that include Buy Online Pick Up In-Store (BOPIS) and Contactless Curbside.
“Your Story, Your Spaces”: a marketing campaign:
BBBY stock started a marketing campaign for wild Sage in order to increase brand awareness as well as sales of its products. The campaign will include the DTC print, blog, and video content for social media, email marketing, and paid digital media placement as well as affiliate content. The campaign will promote the Wild Sage Instagram and Tiktok channels via featuring them through social media content.
BBBY stock’s Future Depends on Financial Results:
BBBY stock had previously announced that it will release its financial results for the quarter ended May 2021 on June 30, 2021. The stock would get the hype if it announces positive results otherwise it would be in trouble. According to Zack’s estimate, BBBY stock would record $0.08 per share quarterly earnings in the upcoming report which means 104.1% high year-over-year. The revenue is expected to increase by 43.3% to reach $1.87 billion.
Conclusion:
Bed Bath stock is enjoying the bullish sentiment after launching of fifth private brand Wild SageTM this year. It seems that the market for apparel retailers is going high so it is expected that the BBBY stock will show good performance in the future. The upcoming fiscal 2021 first-quarter financial results would further decide the fate of the stock. Hence investors should keep an eye on this stock.
