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During these rough coronavirus times, it may be strange to be investing in a home and garden sector industry. But, if you think about it, it sort of all makes sense as to why more homeowners are spending more time on purchasing furniture and spending money on gardening goods while high anxiety and stress are at an all-time high.
This piece won’t go into depth too much about the numbers, but I am pretty adamant that the Bed Bath and Beyond stock will perform fairly well in the coming months, especially when comparing and tracking similar home and garden competitors like Overstock.com or Wayfair.com. You may have noticed that these home and garden stocks are performing at an all-time high and the fact that most homeowners are currently stuck indoors, makes BBBY a very nice buy low and sell high opportunity after holding for a period of time while the world starts to normalize coronavirus.
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Why Invest in Bed Bath and Beyond Stock (BBBY)
Bed Bath and Beyond are going through a major overhaul in management from the executive level starting at the board of directors. Recently, Bed Bath and Beyond announced that Mark Tritton, who was Target’s prior CMO, will be overtaking the position as President and CEO of Bed Bath and Beyond. Shortly after, many high level, digital-savvy executives begun joining the board as well.
The shift in strategy to capitalize on digital omnichannel and focus less so on older traditional strategies marks a new approach to focusing and capitalizing on digital and reducing costs. This approach alone makes me excited for what the future of BBBY holds.
BBBY vs Competitors like Wayfair and Overstock
The main difference between Bed Bath and Beyond and the likes of competitors in Overstock.com and Wayfair.com is that Bed Bath and Beyond owns retail stores in addition to its digital sales. Overstock and Wayfair on the other hand operate little to no retail stores, thus they were able to capitalize on homeowners being stuck at home via online sales. The catch is that I honestly believe that once the economy and market begin to safely open up and a COVID-19 vaccine is just around the corner, Bed Bath and Beyond stock will only begin to outperform its peers.
If you looked at pre-coronavirus times of the price of BBBY stock, Bed Bath and Beyond stocks easily were priced at $15/share. Currently, writing this piece, a BBBY stock is at $8.35/share.
I will keep this piece brief, but I just wanted to share that I’m pretty excited about what the future of Bed Bath and Beyond holds and my views on BBBY are entirely on my own. Please use this investment information at your own discretion and act responsibly.
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