The share price of Bed Bath & Beyond dipped after the company revealed correspondence with the Securities and Exchange Commision pertaining to its 2021 annual report, Barron’s first reported Friday.
The two letters — one dated Nov. 7 from Bed Bath & Beyond interim CFO Laura Crossen to the SEC and one dated Sept. 27 from the SEC to the company — were released Friday. Following that disclosure, the share price of the domestic merchandise retailer reportedly dropped about 4% at one point on Friday, according to the outlet.
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The SEC made a couple information requests in its September letter about the 2021 annual report Bed Bath & Beyond submitted in February, including inquiries about impacts the company faced in that fiscal year’s latter six months due to supply chain issues.
In the report, the company said net sales improvements in the first half of 2021 were offset by traffic declines and the supply chain disruptions in the second half of the year.
“Please specify whether these challenges have materially impacted your results of operations or capital resources and quantify, to the extent possible, how your sales, profits, and/or liquidity have been impacted.” the letter requested.
The SEC also inquired about the potential risk mitigation measures employed, as well as asked the company to include certain information in both quarterly earnings releases and regulatory filings.
Bed Bath & Beyond said in its November…
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