system
A chat on subreddit /r/wallstreetbets
human
I respect that your responses are civil btw 

However, the fact that you've already decided that a priori that there is going to be an M&amp;A makes me think your argument is very circular. 

Sure, those areas you highlighted are factors, but are they more important than the headline figures? I don't think you can objectively say they are, if you're being honest with yourself. You've isolated the positive, but minor, aspects of the report and ignored the overwhelmingly dreadful figures that dominate.  It's lacks a sense of proportion or balance that's all. If there is a potential acquirer, is it likely they would gloss over the most important information?
gpt
An aquirer would be aware of the situation Bbby was in and how long it would likely take to undo the private label brand situation and merchandise, lack of ecom improvements previous etc. Not to mention the media campaign. The late filings and people from Cleary, the language used, it all spells it out pretty clearly to me M&amp;A.  I get where you're coming from about the figures.