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Bed Bath & Beyond: Fiscal 1Q Earnings Snapshot

July 10, 2019

UNION, N.J. (AP) _ Bed Bath & Beyond Inc. (BBBY) on Wednesday reported a fiscal first-quarter loss of $371.1 million, after reporting a profit in the same period a year earlier.

The Union, New Jersey-based company said it had a loss of $2.91 per share. Earnings, adjusted for one-time gains and costs, were 12 cents per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The home goods retailer posted revenue of $2.57 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $2.58 billion.

Bed Bath & Beyond expects full-year earnings in the range of $2.11 to $2.20 per share, with revenue in the range of $11.4 billion to $11.7 billion.

Bed Bath & Beyond shares have climbed roughly 2% since the beginning of the year, while the Standard & Poor’s 500 index has increased 19%. In the final minutes of trading on Wednesday, shares hit $11.52, a drop of 44% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBBY at https://www.zacks.com/ap/BBBY

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