Shares of Bed Bath & Beyond Inc. tumbled 13% to $23.62 after hours Tuesday after the home goods retailer slashed its full year outlook and widely missed earnings and sales expectations in its second quarter.
Online sales at the company have been growing quickly for the past three
years, but digital growth hasn’t been enough to offset sliding sales in
traditional brick-and-mortar stores. Same-store sales deteriorated
faster than expected during the quarter, dropping 2.6%. . . . more