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Consumer Stocks to Watch: Bed Bath & Beyond Inc. (NASDAQ:BBBY), American Apparel Inc (NYSEMKT:APP)

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By on Consumer Staples
Bed Bath & Beyond Inc. (NASDAQ:BBBY) shares turned lower as U.S. stocks slid from last week’s record close. The home-goods retailer had gained in early trading after authorizing a $2 billion share-buyback program to start after the current program has been completed. The current program has approximately $861 million remaining, and the retailer said it expects the new program to be completed in fiscal 2016.
Bed Bath & Beyond fell 0.3% to $59.19 a share. It reached a 52-week low of $54.96 on June 26 after sliding from a record high of $80.82 reached on January 3.
American Apparel Inc. (NYSEMKT:APP) gains in Monday trading as it is holding talks with hedge fund Standard General to raise new financing to pay off a $10 million loan to investment firm Lion Capital, which came due after the company ousted founder and Chairman Dov Charney, sources close to the matter told the Wall Street Journal.
One source added that the terms of the financing from Standard General are still being worked out and that it is not yet clear what form it will take. Standard General effectively holds a 43% stake in the apparel company.

In the ongoing talks, APP and Standard General have reached an agreement in principle to replace all of APP’s board, except for its two co-chairmen, with people who have more industry experience, the sources also said, according to the WSJ. In midday trade, APP shares were up 2.7% to $0.89, within a 52-week range of $0.46 to $2.09.

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