Bed Bath & Beyond’s earnings beats Wall Street’s low expectations
April 16, 2020
Bed Bath & Beyond posted earnings of 38 cents per share during the quarter ending March 2, higher than the 18 cents expected by analysts, even as its same-store sales fell 10 percent. The retailer’s shares jumped 16.2 percent in premarket trading on the news. “Bed Bath & Beyond’s F4Q 2019 results were better than we expected, but this was primarily due to our expectations being too pessimistic,” said Loop Capital analyst Anthony Chukumba. “We continued to see many worrisome signs in the company’s results, including declining comparable sales, gross margin degradation, and SG&A expense deleverage.”
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