Bed Bath & Beyond Earnings: Another Disaster
A year ago, many investors believed that Bed Bath & Beyond (NASDAQ: BBBY) was on a path to return to relevance in the retail industry. Fiscal 2021 started out reasonably well, as the company logged a small profit in what tends to be a seasonally weak quarter.
Unfortunately, Bed Bath & Beyond's sales and earnings trends deteriorated again as the year progressed. On Thursday, the home furnishings specialist released another dreadful earnings report.
Bed Bath & Beyond ended its 2020 fiscal year on a high note. Comparable sales rose 4% in its fiscal fourth quarter, which ended on Feb. 27, 2021. Meanwhile, adjusted earnings per share (EPS) grew 5% to $0.40. The first quarter of fiscal 2021 was fairly successful, too. Comparable sales increased 3% relative to fiscal 2019, gross margin expanded, and the company managed to generate adjusted EPS of $0.05.
Source Fool.com
