Beyond Faces Uphill Battle With Declining Orders And Cash Concerns In Tough Turnaround, Analyst Downgrades Stock
Beyond Faces Uphill Battle With Declining Orders And Cash Concerns In Tough Turnaround, Analyst Downgrades Stock
BofA Securities analyst Curtis Nagle downgraded Beyond, Inc. (NYSE:BYON) to Underperform from Neutral, lowering the price forecast to $6 from $12.50.
美銀證券分析師柯蒂斯·納格爾將 Beyond, Inc. (NYSE:BYON) 的評級從中立下調至表現不佳，將價格預測從12.50美元降至6美元。
Following the "disappointing" third-quarter results, the analyst expresses uncertainty about the timing and potential for ongoing turnaround efforts. The decline in orders remains a critical issue, which management acknowledged during the Investor Event.
在「令人失望」的第三季度業績之後，分析師表達了對持續轉型努力的時間和潛力的不確定性。訂單下降仍然是一個關鍵問題，管理層在投資者活動中已經承認了這一點。
While a reduction in marketing spend has boosted EBITDA, the analyst writes that customer affinity for the brand appears closely linked to marketing and promotions, making near-term improvements unlikely. Additionally, Beyond is navigating a complex landscape with three brand relaunches and two new partnerships, adding significant challenges, all while cash reserves continue to dwindle.
儘管減少了營銷支出使EBITDA增加，但分析師表示，客戶對品牌的親和力似乎與營銷和促銷密切相關，使近期的改善變得不太可能。此外，Beyond 正在應對一個複雜的環境，進行三個品牌重啓和兩個新合作伙伴關係，增加了重大挑戰，同時現金儲備繼續減少。
Also Read: Overstock, Bed Bath & Beyond Owner Reports Lower Sales And Wider Loss In Q3, Aims To Cut $65M In Fixed Costs By 2025
還有閱讀：Overstock, Bed Bath & Beyond 所有者報告第三季度銷售下滑和虧損擴大，力爭到2025年削減6500萬美元的固定成本
Despite cutting fixed costs by $65 million and potential asset sales on the horizon, the situation remains precarious, Nagle added.
儘管已減少了6500萬美元的固定成本，並且未來可能會有資產出售，但局勢仍然不容樂觀，納格爾補充道。
The company has made significant strides in reducing its fixed cost base and is transitioning to an asset-light model, focusing on brand and marketing partnerships to revive Beyond's three brands, which could help mitigate further losses.
公司在減少固定成本基礎上取得了重大進展，並正在過渡到資產輕模式，重點是通過品牌和營銷合作來恢復 Beyond 的三大品牌，從而有助於減輕進一步損失。
However, Beyond has yet to reverse its revenue declines, and additional cuts to marketing could pressure revenues more than anticipated, according to the analyst.
但是，Beyond 尚未扭轉其營業收入下降的趨勢，根據分析師的說法，對營銷的額外削減可能會對收入造成比預期更大的壓力。
While Nagle has observed positive outcomes from other eCommerce retailers expanding their physical presence—such as Wayfair Inc.'s (NYSE:W) early success with its Wilmette store—there are doubts about whether partnering with struggling retailers will effectively reverse Beyond's declining revenue trends.
儘管納格爾觀察到其他電子商務零售商擴大實體店面的積極成果——例如 Wayfair Inc. (NYSE:W) 旗下 Wilmette 店鋪的初步成功——但對於與陷入困境的零售商合作是否能有效扭轉 Beyond 不斷下降的營業收入趨勢存在疑慮。
This skepticism arises given that Beyond is currently undergoing its own turnaround efforts and its products have not been resonating well with customers, the analyst adds.
這種懷疑是因爲Beyond目前正在進行自己的轉型努力，並且其產品在顧客中沒有產生共鳴，分析師補充道。
The analyst projects the company to register FY24 earnings per share of $4.02 loss, compared with earlier projection of $3.67 loss per share.
分析師預計該公司將在FY24實現每股虧損4.02美元，而不是之前預計的每股虧損3.67美元。
Price Action: BYON shares are trading lower by 1.35% to $6.60 at last check Friday.
價格走勢：BYON股票最後交易下跌1.35％至6.60美元，上週五最後檢查時。
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譯文內容由第三人軟體翻譯。
