Stock Alert: Bed Bath & Beyond Down 8% On Quarterly Results

By RTTNews Staff Writer   ✉   | Published:

Shares of Bed Bath & Beyond Inc. (BBBY) are currently down 8% after the home-goods retailer reported a downbeat third-quarter earnings.

BBBY is currently trading at $19.35, down $1.68 or 7.99%, on the Nasdaq.

Bed Bath & Beyond's third-quarter earnings and sales missed Wall Street analysts' expectations. The company also did not provide specific financial guidance, due to the significant COVID-19-related headwinds.

Third-quarter net loss was $75.44 million or $0.61 per share, wider than last year's loss of $38.55 million or $0.31 per share. On an adjusted basis, the company reported profit of $10.43 million or $0.08 per share, compared to a loss of $45.90 million or $0.38 per share last year. On average, 17 analysts polled by Thomson Reuters expected earnings of $0.19 per share for the quarter.

Net sales dropped to 5% to $2.62 billion from $2.76 billion last year. Analysts expected revenues of $2.75 billion for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Previous Story
Next Story
Editors Pick
Wayfair To Pay Minimum Of $15 Per Hour To All US Employees
Online furniture retailer Wayfair Inc. said Thursday it has raised wages to a minimum of $15 per hour for all its U.S. employees. The increase, effective January 3 this year, applies to full-time, part-time, and seasonal employees across the company's U.S. operations. More than 40 percent of its hourly employees working across its U.S. supply chain and customer service will benefit from this.
Walgreens Expands Access To Covid Vaccinations Among Additional Vulnerable Populations
Drugstore chain Walgreens, a part of Walgreens Boots Alliance, Inc., said it is in the process of rapidly expanding access to COVID-19 vaccinations among assisted living facilities and additional vulnerable populations. These include many in rural and urban medically-underserved areas.
Bed Bath & Beyond Q3 Loss Widens; Results Miss Estimates
Home improvement retailer Bed Bath & Beyond, Inc. on Thursday reported a net loss for third quarter that nearly doubled from last year, hurt by charges related to its restructuring and transformation initiatives. Both adjusted earnings per share and net sales missed analysts' expectations. The company also did not provide specific financial guidance.