Bed Bath & Beyond, NIO, Costco and more

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Shoppers walk past a Bed Bath & Beyond store in Washington, D.C.

Andrew Harrer | Bloomberg | Getty Images

Check out the companies making headlines after the bell

Bed Bath & Beyond — The home goods retailer’s stock fell 11% in extended trading after the company released its first-quarter financial results. Bed Bath & Beyond reported a loss of $1.96 per share excluding some items on revenues of $1.31 billion while analysts polled by Refinitiv expected a loss of $1.22 per share on revenues of $1.39 billion. As the company’s stores were closed during the pandemic, the retailer’s sales

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Black-owned businesses report boost in sales on Blackout Day

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Michael De Los Santos saw a big boost in sales on Blackout Day as consumers supported his BBQ sauce business.

Source: Michael De Los Santos

As activists and allies spread the word about Blackout Day, some Black-owned businesses said they saw a boost in support.

The movement urged both Black consumers and others to either withhold spending entirely on Blackout Day, or support Black-owned businesses, in order to show the spending power of the Black community and to highlight the need for economic and financial equality.

Nile, an online community that connects shoppers with Black-owned brands, saw a boost of

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Wendy’s franchisee allegedly spent $1 million of PPP funding to finance home

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Chip Somodevilla | Getty Images

A former employee of Starboard Group, a large Wendy’s operator, alleges that the franchisee’s chief executive diverted $1 million in Paycheck Protection Program loans to finance his home in Montana.

Sandi Adler, who was Starboard’s vice president of legal affairs and human resources, filed the complaint on June 30 under Florida’s whistleblower statute. She also alleges sexual harassment in the suit, filed in state court in Broward County.

The lawsuit alleges that Starboard received about $9 million in PPP loans. The franchisee operates 101 Wendy’s locations across seven states and has 3,200 employees, according to

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Bed Bath & Beyond (BBBY) reports Q1 2020 loss, 200 store closures

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A shopper exits a Bed Bath & Beyond store in New York.

Michael Nagle | Bloomberg | Getty Images

Bed Bath & Beyond said Wednesday its sales tumbled nearly 50% during its latest quarter, even as online sales surged more than 100% during April and May with consumers stocking up on cleaning supplies and home decor. 

The company said it plans to permanently close roughly 200 of its namesake stores over the next two years, starting later in 2020, as it works toward getting back to profitability against the backdrop of the coronavirus pandemic. As of May 30, it operated

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