Bed Bath & Beyond Is Selling Its Christmas Tree Shops. Why That’s Good News.

Barron's

Bed Bath & Beyond stock was jumping Wednesday morning following news that the home-goods retailer is selling some noncore assets, including its Christmas Tree Shop chain.

Telsey Advisory Group’s Joseph Feldman reiterated an Outperform rating and $23 price target on the shares, writing that the move not only allows management to focus on the Bed Bath and buybuyBaby banners, but the proceeds will provide “flexibility for the company to invest in the core business, pay down debt, or return it to shareholders in the form of share repurchases or dividends.”

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