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Bed, Bloodbath, & Beyond

Courtesy of ZeroHedge. View original post here.

Bed, Bath, & Beyond 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…

To the lowest levels since July 2009…

Peers like Pier 1 Imports (-13%) and Williams-Sonoma (-2.5%) were also hit.


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