June 27, 2018 / 8:24 PM / 19 days ago

Bed Bath & Beyond reports surprise drop in quarterly same-store sales

June 27 (Reuters) - Bed Bath & Beyond reported a surprise drop in same-store sales for the first quarter on Wednesday, as the home furnishings retailer faces intense competition from online and off-price retailers.

The company reported a 0.6 percent drop in same-store sales, while analysts were expecting a rise of 0.06 percent, according to Thomson Reuters I/B/E/S.

Net income fell to $43.58 million, or 32 cents per share, in the quarter ended June 2, from $75.28 million, or 53 cents per share, a year earlier.

Reporting by Jaslein Mahil and Vibhuti Sharma in Bengaluru

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below