Bed Bath & Beyond Soared Over 8% in Premarket Trading though It Missed on Revenue

Bed Bath & Beyond soared over 8% in premarket trading though it missed on revenue.It reported quarterly losses of $(0.25) per share. This is a 412.5 percent decrease over earnings of $0.08 per share from the same period last year. The company reported quarterly sales of $1.88 billion which missed the analyst consensus estimate of $2.00 billion by 6.10 percent. This is a 28.27 percent decrease over sales of $2.62 billion the same period last year.

The company currently expects that fourth quarter earnings per share will be at the high end of its previous guidance of $2.10 to $2.25, compared to earnings per share from continuing operations of $1.96 in 2020.

The company expects fourth quarter sales at the high end of its previous guidance for a mid- to high-single digit percent increase compared to 2020.

The company will report fourth quarter earnings on Feb. 23, 2022.

Andrew Meslow, Chief Executive Officer, said “We are very pleased with our Holiday results, which exceeded our expectations, driven by strong customer response to our Holiday assortment. In this challenging environment, our focus on execution enabled our teams to provide a full and compelling merchandise assortment for our customers online and in our stores. These results would not be possible without the dedication and hard work of all of our associates and partners in stores, across our supply chain in distribution, fulfillment and call centers and at our home office. We’d like to express our sincere appreciation for their efforts.”