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 ...
Add supply chain disruption that lead to lower profits, look out below! The Biden reset is underway.
The DOW index has broken trendlines significantly. Interesting development. Down a bit today...
There are a BUNCH of companies that have done that.
I don’t take advice from people with make-believe race cars.
“I don’t take advice from people with make-believe race cars.”
The owner of this website has make-believe race cars?
I like to stop in at BB&Bs, look around a bit and ask where the MyPillows are. When they tell me they don’t carry them any more, I reply “uh-huh” and walk out.
Earnings season is going to be full of misses and warnings of disruptive issues...I went to cash last week.
BBBY is working on improving their online ordering and their brick and mortar supplies. There are a lot of things they’ve done which I’m not in agreement with, but for the sake of many, I hope they get things worked out, and very quickly. Implementing new strategies sometimes takes time. Everyone wants things done yesterday, and real life doesn’t work that way.
Sorry but Rouche cars are for stop lights and roll-racing...not racetracks - where they kiss walls and overheat.
I could not agree with you more.
I have had years of good experience with BB&BY, using their 20% off coupons (which I get in both Email and snail mail every month) and preferring them to other bricks and mortar outfits that sell the same stuff.
I much prefer specialty stores to bigger more diverse offering stores, when quality and price are good.
“Sorry but Rouche cars are for stop lights and roll-racing...not racetracks”
Sorry? Hardly! A street car bought off the show room floor with a five year warranty. Never intended to be a race car.
It’s a long, long way from “over”, if ever.
I used to shop there. Stopped a couple years ago. Target. Dicks sporting goods. Victoria secret and many more.
Yep
I save all my BB&B money to buy from Mike Lindell (who’s product line is growing by the day, I might add!)
Nothing at BB&B that can’t be had cheaper elsewhere. Haven’t been in one in many years.
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