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

Finance

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

Video: The real thing to watch with the new US government
Sterling and Yen Underperform After BoE and BoJ
Dallas Fed trimmed mean November PCE price index +1.8% vs +2.9%
US stocks falling sharply with the S&P and the Nasdaq now down over 1%
Gold Price Today: Yellow metal prices trade flat in one month, gain Rs 225/10g, silver down by Rs 700/kg

Leave a Reply

Your email address will not be published.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