Bed Bath & Beyond snared by ongoing supply issues

Mgn 1280x720 00826p00 FdjjgInventory difficulties hurt Bed Bath & Beyond during its fiscal fourth quarter and will continue into the current quarter, the home products retailer said Wednesday.

For the three months ended February 26, sales fell 22% to $2.05 billion. Analysts polled by Zacks Investment Research predicted sales of $2.08 billion.

Bed Bath & Beyond lost $159 million, or $1.79 per share, in the quarter. A year earlier it earned $9 million, or 8 cents per share.

Stripping out certain items, the company lost 92 cents per share.

Analysts were calling for a profit of 2 cents per share.

Categories: National News