Posted on 09/30/2021 7:38:11 AM PDT by MeneMeneTekelUpharsin
Bed Bath & Beyond Inc. BBBY, -26.80% shares sank 17.1% in Thursday premarket trading after the retailer reported fiscal second-quarter profit and sales that missed expectations and gave guidance below Street consensus. Net loss totaled $73.2 million, or 72 cents per share, after net income of $217.9 million, or $1.75 per share, last year. Adjusted EPS of 4 cents was well below the FactSet consensus for 52 cents.
Sales of $1.985 billion was down from $2.688 billion in 2020 and below the Factset consensus for $2.059 billion. Comparable sales fell 1%, which the company attributed to a decline in August traffic. The FactSet consensus was for a 1.5% increase. "As COVID-19 fears re-emerged amid the on-going Delta variant, we experienced a challenging environment," said Chief Executive Mark Tritton in a statement, explaining the sales and gross margin pressure the company experienced. "This was particularly evident in large, key states such as Florida, Texas and California, which represent a substantial portion of our sales. Furthermore, unprecedented supply chain challenges have been impacting the industry pervasively, and we saw steeper cost inflation escalating by month, especially later in the quarter, beyond the significant increases that we had already anticipated." Bed Bath & Beyond is guiding for third quarter sales between $1.96 billion to $2.0 billion, flat comparable sales, and adjusted EPS in the range of $0.00 to $0.05.
(Excerpt) Read more at marketwatch.com ...
And Mike Lindell smiles.
Go woke. Go broke. I don’t know if they are losing because of they’re policies but couldn’t happen to a nicer bunch of jerks.
“.50 earnings last year, .04 earnings now. This is happening to thousands of companies.”
ROTFLMAO! S&P 500 YOY is 22%.
“Businesses are losing their shirts because of this Covid mess. “
Really?
Eaton last posted its earnings results on August 3rd, 2021. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. The company earned $5.22 billion during the quarter, compared to analyst estimates of $4.99 billion. Its revenue for the quarter was up 35.2% on a year-over-year basis. Eaton has generated $4.24 earnings per share over the last yea
The creative destruction of Capitalism marches on. This is how market driven economies work. Yesterday’s business titans become todays dinosaurs. Whither now Sears and Kmart?
Well, that’s what happens when you piss of your customers.......................
Got rid of My Pillow, I always buy at least 2 as Christmas Gifts. Oh well.
Bed, Bath, and Beyond is one company that has real opportunity if they could get their internet sales in order. They carry all kinds of stuff but the stores have it jammed everywhere.
Meme Stocks were cheap for a reason.
I like Mike Lindell more than I like BB & B.
They are dead to me.
I’ve noticed that their stores (I have to shop there occasionally) are looking haggard and understocked. Tick tock.
Bed Bath & Beyond are a proud WOKE company. They despise conservative Americans.
Target Stores are another WOKE company that hates us.
I would probably go in their stores more often, except that they have made me allergic to the patchouli they dump into their ventilation system.
So jumping into the BLM sh*t-wagon and cancelling Lindell didn’t work?
“Go woke. Go broke. I don’t know if they are losing because of they’re policies but couldn’t happen to a nicer bunch of jerks.”
Nope. They’re losing due to some kind of mismanagement. I used to go there around the holidays to buy interesting gifts. They used to have a store full of Sharper Image type things, unusual, interesting. Last time I was in one of their stores, it was shocking in how they had rearranged it because of lack of product, and the product they had wasn’t much different than what you’d find at Target, or Kohl’s.
BB&B is toast.
this is what happens when you turn against conservatives. I have spent THOUSANDS at this store and never dropped another dime after what they did to Mike Lyndell.
LOL I thought the same
The problem is that Bed Bath and Beyond was once a good store, when most of what it offers was not so same-available in so many other places and folks did less on-line shopping.
It’s stores are smaller than a Walmart or even a Target and for the goods BB&B sells you didn’t have to traipse around a giant store to get directly to what you wanted. That is the benefit of any store that sells only a particular kind of goods. But you have to do it well and you have to keep up with trends, including the move of retail on-line.
They needed to up their on-line game and improve the operations and profit margins of the bricks and mortar presence. Which they haven’t done.
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