Bed Bath & Beyond’s supply chain issues hammered results. Its stock is up anyway

Earnings

In this article

Customer shopping in a Bed Bath & Beyond store
Courtesy: Bed Bath & Beyond

Bed Bath & Beyond shares tumbled nearly 10% in premarket trading Thursday after the home goods retailer missed analysts’ expectations for fiscal third quarter.

Chief Executive Mark Tritton said a lack of inventory due to supply chain bottlenecks cost Bed Bath & Beyond about $100 million. Issues escalated during December, he said.

Here’s how the retailer did in the three-month period ended Nov. 27 compared with what analysts were anticipating, using Refinitiv data:

  • Loss per share: 25 cents vs. breakeven results expected
  • Revenue: $1.88 billion vs. $1.95 billion expected

Bed Bath & Beyond shares closed Wednesday down 10.8%. The stock has fallen about 32% from a year ago.

Find the full earnings press release from Bed Bath & Beyond here.

This story is developing. Please check back for updates.

Articles You May Like

The ‘20% rule’ behind Giorgos Tsetis’ blueprint for a new kind of family office
Understanding Roth Conversions: How They Work
AOC says she’s been saving up to freeze her eggs. Here’s how much the procedure can cost
What will TV look like in three years? Media insiders share their predictions
Lakers governor Jeanie Buss says siblings cannot sell family’s stake to Bob Iger, Joshua Kushner

Leave a Reply

Your email address will not be published. Required fields are marked *