Bed Bath & Beyond: Fiscal 1Q Earnings Snapshot
Posted Jul 8, 2020 05:40:28 PM.
Last Updated Jul 8, 2020 05:54:07 PM.
This article is more than 5 years old.
UNION, N.J. (AP) _ Bed Bath & Beyond Inc. (BBBY) on Wednesday reported a loss of $302.3 million in its fiscal first quarter.
The Union, New Jersey-based company said it had a loss of $2.44 per share. Losses, adjusted for one-time gains and costs, were $1.96 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $1.42 per share.
The home goods retailer posted revenue of $1.31 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $1.33 billion.
Bed Bath & Beyond shares have decreased 40% since the beginning of the year, while the Standard & Poor’s 500 index has declined nearly 2%. In the final minutes of trading on Wednesday, shares hit $10.41, a decrease of slightly more than 9% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBBY at https://www.zacks.com/ap/BBBY
The Associated Press
