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Bed Bath & Beyond Stock Tanks on Weak Fiscal Q2 Earnings

Ralph Nathan
Bed Bath & Beyond Stock Tanks on Weak Fiscal Q2 Earnings

Bed Bath & Beyond (BBBY) posted its fiscal second-quarter earnings after the market closed on September 26. For the quarter ended on September 1, the company posted adjusted EPS (earnings per share) of $0.36 on revenues of $2.94 billion against analysts’ EPS expectation of $0.50 and revenue expectation of $2.96 billion. The company’s same-store sales fell 0.6%, while analysts had projected it to rise by 0.3%. The weak fiscal second-quarter results led the company’s stock price to fall by ~14.0% in yesterday’s after-hours trading.