Categories AlphaGraphs, Earnings

Bed Bath & Beyond tanks on disappointing outlook

Domestic merchandise retail store chain Bed Bath & Beyond (BBBY) reported higher top line results for fourth quarter of 2017, pushed by growth in customer-facing digital channels which increased sales by 5.2% to $3.71 billion. Comparable sales for fourth quarter 2017 declined by about 0.6%. Earnings, however, was impacted by the 2017 Tax Act, which sunk by 27.7% to $194 million or $1.41 per share. On an adjusted basis, the company reported earnings of $1.48 per share.

As the company reported disappointing forecast for fiscal 2018, the stock plunged 14% in after-market trading.

Dividend

Bed Bath’s BoD declared an increase in the quarterly dividend to $0.16 per share, which is payable on July 17, 2018 to shareholders of record at the close of business on June 15, 2018.

Outlook

The company expects net earnings per diluted share for the full year 2018 to be in the low-to-mid $2 range.

Bed Bath & Beyond earnings
Bed Bath & Beyond Q4 2017 Earnings Snapshot

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top