Bed Bath & Beyond Misses Wall Street Estimates
Shares of the home-goods retailer were reversing course despite posting underwhelming quarterly earnings.
Shares of Bed Bath & Beyond (BBBY) - Get Report were up Thursday despite a quarterly earnings miss Wednesday. The New Jersey-based home-goods retailer booked earnings of $1.11 a share, which was more than 4% below consensus forecasts. Second quarter revenue of about $3 billion also missed estimates by about $600 million. Same-store sales fell 1.2% year-over-year. But despite shares falling about 5% in after hours trading on Wednesday, they reversed course Thursday morning after the company reaffirmed their 2016 earnings and sales outlook.
Employees of TheStreet are restricted from owning individual securities.
