Bed Bath & Beyond stock rallies after surprise fiscal Q4 profit [MarketWatch]
Bed Bath & Beyond, Inc. (BBBY)
Last bed bath & beyond, inc. earnings: 4/15 04:15 pm
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Source: MarketWatch
Shares of Bed Bath & Beyond rallied more than 13% in the extended session Wednesday after the retailer narrowed a GAAP fiscal fourth-quarter loss and swung to a surprise adjusted profit for the quarter. Bed Bath and Beyond said it lost $65 million, or 53 cents a share, in the quarter, compared with a loss of $254 million, or $1.92 a share, in the fiscal 2018 fourth quarter. Adjusted for one-time items, the company earned 38 cents a share, compared with $1.20 a share a year ago. Sales fell 6% to $3.1 billion, the company said. Same-store sales fell 5.6% in the quarter. Analysts polled by FactSet had expected Bed Bath & Beyond to report an adjusted loss of 5 cents a share on sales of $3 billion. Due to ongoing uncertainty amid the coronavirus pandemic, the retailer did not provide guidance. Shares of Bed Bath & Beyond ended the regular trading down 17%.
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News
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