Bed Bath & Beyond shares dive as retailer’s earnings fall short, supply chain issues hurt sales

Customer shopping in a Bed Bath & Beyond store

Courtesy: Bed Bath & Beyond

Bed Bath & Beyond shares tumbled nearly 10% in premarket trading Thursday after the home goods retailer missed analysts’ expectations for fiscal third quarter.

Chief Executive Mark Tritton said a lack of inventory due to supply chain bottlenecks cost Bed Bath & Beyond about $100 million. Issues escalated during December, he said.

Here’s how the retailer did in the three-month period ended Nov. 27 compared with what analysts were anticipating, using Refinitiv data:

  • Loss per share: 25 cents vs. breakeven results expected
  • Revenue: $1.88 billion vs. $1.95 billion expected

Bed Bath & Beyond shares closed Wednesday down 10.8%. The stock has fallen about 32% from a year ago.

Find the full earnings press release from Bed Bath & Beyond here.

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