Bed Bath & Beyond Crushed After Quick Turnaround Hopes Vanish
Despite previous assurances from Bed Bath & Beyond (NASDAQ: BBBY) that its turnaround plan was on track, the home goods retailer released a holiday sales report showing there is still a very long road to travel.
With comparable store sales over the first two months of the fourth quarter tumbling 5.4%, recently appointed CEO Mark Tritton was forced to admit its "own executional challenges" were as much to blame for the shortfall as anything. Bed Bath & Beyond's stock plummeted 26% on the news.
There were actually very few customers shopping Bed Bath & Beyond for housewares over the holidays. Image source: Getty Images.
Source Fool.com
