Bed Bath & Beyond Inc. shares traded lower on Thursday, after the company posted weaker-than-expected same store sales over its fiscal second quarter, and lowered its full-year earnings guidance.
For the three months ending August, the home furnishings retail company’s adjusted earnings decreased -10.5% year-over-year to 34 cents per share, but was still 5 cents ahead of the Street consensus expectation.
Net sales fell -7.3% to $2.7 billion, slightly below analysts' estimates of $2.76 billion.
Same store sales declined -6.7%, compared to the - 5.4% decrease that investors had been expecting.
Looking into the full-year 2019, Bed Bath & Beyond is expecting earnings to range between $2.08 and $2.13 per share, down from its previous forecast of $2.11 to $2.20.
an operator of chain of home furnishings stores
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