Bed Bath & Beyond Has Record Gain as Activist Calls for Sale
- Shares of the retailer surge as much as 86% on Monday
- Bed Bath & Beyond will review letter from RC Ventures
A Bed Bath & Beyond in Kentucky.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Bed Bath & Beyond Inc. shares had their biggest gain in 30 years of trading after Ryan Cohen’s investment firm RC Ventures disclosed a large stake in the retailer and asked that it consider a sale of the whole company.
The Union, New Jersey-based home-goods retailer jumped as much as 86% on Monday after Cohen said Bed Bath & Beyond should consider selling itself to a well-capitalized buyer or sell its baby-products business. In a letter sent to the company’s board Sunday, RC Ventures said its executives received “outsized” compensation relative to its performances.