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

Debt-hungry AI companies face increased risk as bond yields spike
Prediction market traders think the U.S. added more jobs in September than economists estimate
Boeing flags 737 Max software glitch affecting some automated approach functions
Trump-Xi summit analysis: ‘Tangible outcomes’ needed for U.S.-China truce to hold
New Social Security bill would lower retirement age to 60 for some workers

Leave a Reply

Your email address will not be published.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