Watch these retailers as the most likely to nab sales from closing Bed Bath & Beyond stores
krblokhin

There are not any new developments surrounding a potential bankruptcy for Bed Bath & Beyond (NASDAQ:BBBY), but some of retail vultures are circling with even more stores expected to be closed.
Telsey Advisory Group did a deep dive on Wednesday into which retail sector competitors could pick up sales across the 37 states where BBBY operates.
Analyst Christina Fernandez said the data indicated that Target (TGT) has the greatest number of stores near a closing Bed Bath & Beyond. "In fact, 63% of closing Bed Bath & Beyond stores have a Target within one mile and 85% within three miles," she noted. Walmart (WMT) ranked second by having a store within a mile of 53% of the closing Bed Bath & Beyond stores and operating a store within 83% of the closing locations. TJX Companies (TJX) could also be beneficiary with stores within one mile of 37% of the closing Bed Bath & Beyond stores and within three miles of 54% of the locations. Burlington Stores (BURL) and Ross Stores (ROST) are two other retailers that could be expected to see some incremental sales. Online players Amazon (AMZN) and Wayfair (W) also have some overlap with BBBY that could see customers turn to online buying with stores being shuttered.
After crunching all the numbers, Telsey thinks Wayfair (W) is the retailer that could benefit the most in terms of a positive lift to comparables sales directly as a result of closed Bed Bath & Beyond stores.
As for BBBY, shares fell 2.65% in Wednesday afternoon trading and are down about 11% as the bouncy trading continues on the highly-shorted stock.
Read the latest breakdowns on Bed Bath & Beyond (BBBY) from Seeking Alpha authors.