NEW YORK (TheStreet) -- Bed Bath & Beyond (BBBY - Get Report) is falling after releasing earnings. "This was just a bad miss," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Mad Dash" segment Thursday.
The company reported comparable-store sales growth of 1.7%, disappointing analysts who were looking for around 3.5% growth.
Cramer said Bed Bath & Beyond appears to be "search for meaning," and is not executing as well as it should be.
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Cramer called CEO Alex Smith one of his "Bankable 21" CEOs, but admitted that the last several quarters have been disappointing.
However, he complimented Smith's execution and said the company's online rollout looks good.
The stock could climb to $22 or $23 if Pier 1 can obtain mid-single-digit comp sales growth and have success with its online products, Cramer concluded.
-- Written by Bret Kenwell in Petoskey, Mich.