Company briefs: Bed Bath & Beyond

Bed Bath & Beyond rose in US pre-market trading as investors geared up for a strategic update from the home goods retailer, due before the opening bell. Shares were up 3.6 per cent as at 4.20am New York time, paring an earlier gain of as much as 6.5 per cent, and set to rebound after dropping more than 9 per cent on Tuesday.

While the focus of Bed Bath & Beyond's "business and strategic update" is unknown, it will be watched closely following last week's report that the company was said to be looking to mortgage its prized Buybuy Baby brand.

BLOOMBERG

---

BYD

Traders rushed to sell BYD after Mr Warren Buffett's Berkshire Hathaway trimmed its stake in the Chinese electric vehicle maker, fearing thatthe billionaire may be gearing up for an eventual exit after more than a decade as the company's most notable backer.

BYD shares plunged 7.9 per cent in Hong Kong on Wednesday, the most in seven weeks and the worst performance on the benchmark Hang Seng Index.

The selling followed Berkshire's Tuesday filing to the exchange, notifying it that the firm reduced its holding of BYD's Hong Kong-listed shares to 19.92 per cent from 20.04 per cent on Aug 24.

BLOOMBERG

---

Woolworths

Woolworths Holdings is preparing to battle the impact of soaring inflation in both its key markets, after increased sales and a growing cash pile allowed it to raise the annual dividend higher than expected.

The South African retailer said that while a jump in prices is a risk, its Australian department-store business "should be somewhat mitigated by strong household balance sheets and high employment".

South Africa may be a bigger challenge as energy shortages and blackouts pinch the flagship food business, as shoppers are frequently prevented from cooking or refrigerating produce.

BLOOMBERG