NEW YORK (TheStreet) -- Earnings season launched last night. Today we're treated to what many are expecting to only be the first of a long line of weather-related excuses for companies missing expectations in Q1.
This evening's sacrificial lamb is Bed Bath & Beyond (BBBY), which after today's close blamed slumping quarterly sales on lousy weather. At the time of this writing, shares of Bed Bath & Beyond were trading down over 5% from their closing 4 p.m. print. This doesn't bode well for the rest of the retail and even homebuilding sectors:
...and it's starting to look like the next quarterly report from $BBBY doesn't hold any more promise:
$BBBY After this winter; that BBBY would actually be guiding lower for Spring (you know; daffodils, butterflies, etc) does not bode well.-- Abazaba (@Abazaba) Apr. 9 at 02:31 PM
But not everyone is so blue. Some are suggesting perhaps this winter might allow companies to "eat some losses" now, for the betterment of future quarters:
$BBBY now clearly weather killed all retail q1..however one can expect a real nice bounce back q2-3 with spending resuming..long term bull-- Steve (@Stocknut62) Apr. 9 at 01:57 PM
At the time of publication, the author held no positions in any of the stocks mentioned.