Bed Bath Will Keep You Up Nights
Back in September, I thought Bed Bath & Beyond (BBBY) was a short and that the stock would fall out of bed. I didn't think the company could make the November quarter, and I surmised it would miss on the fourth quarter as well.
Well, last night the company reported its fiscal third quarter (ended November), and earnings per share came in at $1.03, a penny ahead of estimates. Revenue rose 15.2% year over year to $2.7 billion, which was in line with the Street. But then management cut fourth-quarter estimates, now estimating EPS at between $1.60 and 1.67 vs. the $1.75 estimate....299 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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