Bed, Bloodbath, & Beyond
Bed, Bath, & Beyond (BBBY) collapsed in after-hours trading to below $30 per share - the lowest since July 2009 - as yet another retailer hits the wall.
- Bed Bath & Beyond 1Q comparable sales -2.0%, est. +0.3% (Consensus Metrix, average of 18)
- 1Q EPS 53c, est. 66c (range 59c to 74c)
- 1Q net sales $2.74b, est. $2.79b (range $2.75b to $2.84b)
Management said it experienced "softness in transactions in stores," as well as higher net-direct-to-customer shipping expense, coupon expense and advertising costs.
And the share price dropped 13% after hours before a modest bounce...
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To the lowest levels since July 2009...
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Peers like Pier 1 Imports (-13%) and Williams-Sonoma (-2.5%) were also hit.
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It opened at a 7-year low, lets see where it's at by the end of the day.
Williams Sonoma is probably going to do well.