Thursday, April 16, 2020

Bed Bath & Beyond Shares Surge After Surprise Q4 Earnings Beat

The Street
Bed Bath & Beyond Inc.shares surged in pre-market trading Thursday after posting stronger-than-expected fourth quarter earnings even as it cautioned that coronavrus closures would pressure plans to revive the struggling home furnishings retailer.

Group net sales, the company said, fell 6.1% to $3.1 billion, again topping analysts' estimates of a $3 billion tally. Comparable store sales fell 10%, Bed Bath & Beyond said, while digital sales tumbled 16% amid weaker holiday activity. . . . more