Real turnaround stories are rare. When a company is struggling, it needs to have enough cash to stay solvent while working out its problems, and then, it needs to climb uphill, often in the face of tough challenges.
Bed Bath & Beyond (NASDAQ: BBBY) was in a difficult position in 2019 after an extended revenue slump and no real strategy forward. Activist investors ousted management and brought on Mark Tritton as CEO, who was previously merchandising chief at Target. He began to set in motion a turnaround, and coming out of the pandemic, the home goods company is in a better position than it has been in for years. Should you buy shares of Bed Bath & Beyond in these early stages of its recovery?