Bed Bath & Beyond Outlines Its Path Forward
Investors were bracing for bad earnings news from Bed Bath & Beyond (NASDAQ: BBBY) but were still shocked by Wednesday's reporting. The specialty retailer announced weak third-quarter sales and a $30 million operating loss. The executive team, which just recently stepped in to lead the company, asked for investor patience as it completes its transformation plan over the next few months. Yet shareholders were stunned to hear the chain withdraw its 2019 outlook while it works on that rebound.
In a conference call with Wall Street analysts, new CEO Mark Tritton and his team explained the challenge ahead while maintaining that a full recovery is possible. Below are some highlights from that presentation.
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Source Fool.com
