Bed Bath & Beyond: Fiscal 2Q Earnings Snapshot
UNION, N.J. (AP) _ Bed Bath & Beyond Inc. (BBBY) on Wednesday reported fiscal second-quarter earnings of $48.6 million.
The Union, New Jersey-based company said it had net income of 36 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The home goods retailer posted revenue of $2.94 billion in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $2.95 billion.
Bed Bath & Beyond shares have fallen 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 9 percent. In the final minutes of trading on Wednesday, shares hit $18.81, a decline of 18 percent in the last 12 months.