Bed Bath & Beyond is rising early Tuesday, a day after it announced it would sell Cost Plus World Market, its last non-core brand.
Telsey Advisory Group’s Joseph Feldman reiterated an Outperform rating and $28 price target. He says the sale will allow Bed Bath to focus on its four key categories: home, beauty, wellness, and baby. “Looking ahead, the planned initiatives—which target merchandising, pricing, stores, supply chain, digital, and technology—should result in a smaller, but more profitable Bed Bath & Beyond by 2023.”
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