Bed Bath & Beyond News: 11 Reasons Why BBBY Stock Is Taking a Beating Today

Bed Bath & Beyond (NASDAQ:BBBY) stock is falling hard on Thursday following the release of its second-quarter 2021 earnings report.

Bed, Bath & Beyond (BBBY) storefront with trees in front
Source: Shutterstock

Let’s dive into that earnings report below to see what has investors in BBBY stock upset today.

  • The bad news for BBBY shareholders starts with adjusted earnings per share of 4 cents.
  • That’s a massive miss next to Wall Street’s adjusted EPS estimate of 52 cents.
  • It’s also a sharp decline from the company’s adjusted per-share earnings of 50 cents from the same time last year.
  • To go along with that, its revenue of $1.99 billion also wasn’t in favor of BBBY stock.
  • It doesn’t stack up well compared to analysts’ revenue estimate of $2.06 billion.
  • That also represents a 26% drop from the company’s revenue of $2.69 billion from the same period of the year prior.
  • Bed Bath & Beyond also updated its outlook for fiscal 2021 and it isn’t doing BBBY stock any favors.
  • Among that is adjusted EPS ranging from 70 cents to $1.10.
  • That would have it missing Wall Street’s estimate of $1.51 per share.
  • It’s also looking for revenue of $8.1 billion to $8.3 billion during the current year.
  • That would also fall short of analysts’ 2021 revenue estimate of $8.31 billion.

Mark Tritton, president and CEO of Bed Bath & Beyond, said this in the earnings report.

“Following solid growth in June, we saw unexpected, external disruptive forces towards the end of the quarter that impacted our outcome. In August, the final and largest month of our second fiscal period, traffic slowed significantly and, therefore, sales did not materialize as we had anticipated.”

BBBY stock was down 22.1% as of Thursday afternoon.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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