Shares of the omnichannel merchandise retailer Bed Bath & Beyond Inc. (BBBY) soared 11.3% on reporting better-than-expected revenue and margins in the first quarter. Earnings missed the consensus estimates, yet the company raised its full fiscal year guidance based on the current quarter’s strong performance. The company reported adjusted earnings of $0.05 per share, missing the Street’s estimates of $0.08 per share. In the prior-year quarter, BBBY had reported an adjusted loss of $1.96 per share. Net sales climbed 49% to $1.95 billion compared to the year-ago period and surpassed analysts’ expectations of $1.87 billion. Comparable store sales grew 86%, including an estimated impact of 13% from fleet optimization activity.
https://www.tipranks.com/news/bed-bath-shares-soar-11
Bed Bath and Beyond (NASDAQ:BBBY)
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