Bed Bath & Beyond Inc. (NASDAQ:BBBY), Macy’s Inc. (NYSE:M) And Retail Troubles
Bed Bath & Beyond Inc. (NASDAQ:BBBY)’s stock has gained close to 40% year to date and this compares to about 33% gains of retailer Macy’s, Inc. (NYSE:M) and over 38% gains of SPDR S&P Retail (ETF) that holds 98 stocks to match the performance of the S&P Retail Select Industry Index. All these retails stocks are currently trading close to their 52-week highs.
Tom Aspray, a Forbes contributor, recently noted that all these three stocks are vulnerable to at least 3-5% correction, based on the weekly analysis. While Aspray agreed to long term potential of Macy’s, Inc. (NYSE:M) and SPDR S&P Retail (ETF), he cautioned: “Both these stocks look the most attractive but do not look cheap or discounted at current levels.”
Panic over Low Holiday Season
The entire retail industry, including companies like Bed Bath & Beyond Inc. (NASDAQ:BBBY), is threatened by forecasts of not-so-exciting holiday season amidst disturbing economic environment and cautious consumer spending behavior. Hence all the retailers were keen to offer best of strategic discounts on wide range of merchandizes and some exciting combos to lure as many customers as they can. While Black Friday and Cyber Monday along the Thanksgiving would have accounted for most of their businesses, retailers are still keeping their offers alive through the holiday season.
Luring the Customers
In one such exciting offer, Bed Bath & Beyond Inc. (NASDAQ:BBBY) is offering Starbucks Verismo 580 brewer at as much as 50% discount. The Verismo 580 Brewer is available for sale at $119.99 with a free frothing unit against their usual tag price of $149.99 and $59.99, respectively. In addition the retailer offers a hot 20% off coupon which could be claimed by texting OFFER2 to 239663 and signing up for the mobile text. This coupon can be used in-store on a single item.
Moreover Bed Bath & Beyond Inc. (NASDAQ:BBBY) offers free shipping for all orders above $75 and special deals under “Great Holiday Values”. Macy’s, Inc. (NYSE:M) is also highlighting “Holiday Gift Guide” while offering some exciting discounts under “Super Sunday”