Questions over the exact provenance of bedsheets sold by Welspun India to America's middle classes have not only wiped $740 million off the firm's market value, but also revived one of Indian manufacturing's enduring headaches: quality. India's government, desperate to accelerate growth and create more jobs, has backed a "Make in India" manufacturing push.
- Investopedia•2 days ago
An Indian textiles manufacturer may soon find itself hard pressed to remain in business now that Bed Bath & Beyond (NASDAQ: BBBY) has become the latest retailer to launch an investigation into goods it ...
- Reuters•2 days ago
CHICAGO/NEW DELHI (Reuters) - U.S. retailer Bed Bath & Beyond (BBBY.O) said it ordered an external audit of textiles from Welspun India (WLSP.NS), putting more pressure on the embattled Indian bedding and towel maker that has seen nearly half its market value wiped out this week. Welspun has been caught in a maelstrom after U.S. retailing giant Target (TGT.N) last week accused the Indian manufacturer of passing off cheap sheets as premium Egyptian cotton for two years. Target has said it is severing ties with the company, prompting other Welspun clients including Wal-Mart Stores (WMT.N) and JC Penney (JCP.N) to also probe the manufacturer.
Bed Bath & Beyond Inc. (BBBY)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
|Bid||42.56 x 100|
|Ask||46.22 x 100|
|Day's Range||45.03 - 46.32|
|52wk Range||41.15 - 64.17|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||9.07|
|Avg Vol (3m)||2,392,906|
|Dividend & Yield||0.50 (1.08%)|