Bed Bath & Beyond Inc.

Bed Bath & Beyond shares stumble 11% on big same-store sales drop

Shares of Bed Bath & Beyond Inc. fell more than 11% late Wednesday after the retailer reported fiscal 2017 fourth-quarter earnings and sales broadly within expectations but its same-store sales fell more than forecast. Bed Bath & Beyond said it earned $194,000, or $1.41 a share, in the quarter, compared with $269,000, or $1.84 a share, in the year-ago period. Sales rose 5.2% to $3.7 billion in the quarter, compared with $3.5 billion a year ago. Comparable sales fell by about 0.6%, including strong sales growth from the company's digital channels. Analysts polled by FactSet had expected earnings of $1.40 a share on sales of $3.68 billion. The same analysts, however, had predicted a 2.3% drop for same-store sales in the quarter. The company said it expects fiscal 2018 per-share net earnings to be in the low-to-mid $2 range. That compares with expectations of $3.07 a share for the year, according to FactSet. Shares ended the regular session up 1.3%.

• Apr. 11, 2018 at 4:27 p.m. ET
• by Claudia Assis

Bed Bath & Beyond shares down 11%

Bed Bath & Beyond shares down 11%

• Apr. 11, 2018 at 4:20 p.m. ET
• by Claudia Assis

Bed Bath & Beyond Q4 same-store sales fall more than expected

Bed Bath & Beyond Q4 same-store sales fall more than expected

• Apr. 11, 2018 at 4:19 p.m. ET
• by Claudia Assis

Bed Bath & Beyond Q4 $3.7 billion, in line with expectations

Bed Bath & Beyond Q4 $3.7 billion, in line with expectations

• Apr. 11, 2018 at 4:19 p.m. ET
• by Claudia Assis

Bed Bath & Beyond Q4 EPS $1.41 vs. expectations $1.40

Bed Bath & Beyond Q4 EPS $1.41 vs. expectations $1.40

• Apr. 11, 2018 at 4:17 p.m. ET
• by Claudia Assis

More than 300,000 Vornado space heaters recalled for fire and burn hazards

Vornado Air has recalled 350,000 space heaters sold over the past 8 1/2 years for fire and burn hazards. The recall involves Vornado VH101 Personal Vortex electric space heaters sold in multiple colors for about $30 from August 2009 through March 2018, after Vornado received 15 reports of the heaters catching fire. The heaters were made in China and sold at Bed Bath & Beyond Inc. , Home Depot Inc. , Target Corp. , Menards, Orchard Supply and other stores nationwide, and online by Amazon.com Inc. , on Target.com, Vornado.com and other websites. "Consumers should immediately stop using the recalled heaters and contact Vornado for instructions on how to receive a full refund or a free replacement unit, including free shipping," the company said.

• Apr. 4, 2018 at 2:03 p.m. ET
• by Tomi Kilgore

Bed Bath & Beyond's stock sinks after J.P. Morgan turns bearish

Shares of Bed Bath & Beyond Inc. sank 3.9% in premarket trade Friday, after J.P. Morgan turned bearish on the home furnishings and consumer products retailer, citing concerns over the growth and margin outlook relative to peers. Analyst Christopher Horvers cut his rating to underweight from neutral, and his stock price target to $18, which is 22% below Thursday's closing price, from $21. He pointed out that Bed Bath & Beyond's same-store sales declined 0.3% last quarter, although November was arguably the best month of the year for retailers, and his research suggests trends have slowed for the current quarter despite upbeat outlooks from its peers. As a results, Horvers said further margin erosion "appears inevitable" as management doubles down on its price match guarantee, steps up coupon offers and accelerates advertising spend. Through Thursday, the stock had run up 20% since it closed at a 9-year low on Nov. 7, while the SPDR S&P Retail ETF has rallied 24% and the S&P 500 has climbed 9.6%.

• Jan. 26, 2018 at 8:47 a.m. ET
• by Tomi Kilgore

Bed Bath & Beyond downgraded to underweight from neutral at J.P. Morgan

Bed Bath & Beyond downgraded to underweight from neutral at J.P. Morgan

• Jan. 26, 2018 at 7:32 a.m. ET
• by Tomi Kilgore

Bed Bath & Beyond recalls 175,000 Hudson Comforters by UGG because of mold risk

Bed Bath & Beyond Inc. is recalling about 175,000 Hudson Comforters by UGG because of the risk that they contain mold, the U.S. Consumer Products Safety Commission said Thursday. "Mold can be present, posing a risk of respiratory or other infections in individuals with compromised immune systems, damaged lungs or an allergy to mold," the CPSC said in a statement. Consumers should stop using the comforters and return them for a full refund. Bed Batch & Beyond has created a hotline at 800-462-3966. The recall involves polyester comforters sold in four colors and three sizes between August 2017 and October 2017. The comforters were made by BHF International Ltd of Hong Kong in mainland China. Bed Bath & Beyond shares were slightly lower Thursday, and have fallen 43% in the last 12 months, while the S&P 500 has gained 23%.

• Jan. 18, 2018 at 1:40 p.m. ET
• by Ciara Linnane

Bed Bath & Beyond shares tumble 12.3% after "weak" earnings announcement

• Dec. 21, 2017 at 12:00 p.m. ET
• by Tonya Garcia

Bed Bath & Beyond's stock falls 5% premarket after Q3 results late Wednesday

• Dec. 21, 2017 at 8:02 a.m. ET
• by Tomi Kilgore

Bed Bath & Beyond shares turn lower despite earnings beat

• Dec. 20, 2017 at 4:27 p.m. ET
• by Claudia Assis

Bed Bath & Beyond Q3 sales $2.9 billion, in line with expectations

• Dec. 20, 2017 at 4:18 p.m. ET
• by Claudia Assis

Bed Bath & Beyond Q3 EPS 44 cents vs. expectations 38 cents

• Dec. 20, 2017 at 4:17 p.m. ET
• by Claudia Assis

Bed Bath & Beyond shares up 6% after company earnings

• Dec. 20, 2017 at 4:16 p.m. ET
• by Claudia Assis

Nasdaq nails trendline support, Russell 2000 holds the breakout point

• Dec. 7, 2017 at 11:55 a.m. ET
• by Michael Ashbaugh

Bed Bath & Beyond stock price target cut to $25 from $35 at SunTrust RH

• Sep. 26, 2017 at 7:23 a.m. ET
• by Tomi Kilgore