Bed Bath & Beyond withdrew its fiscal 2019 outlook on Wednesday, saying that it would reveal its strategic plans in early 2020.
The retailer also reported third-quarter earnings and revenue that fell short of Wall Street’s expectations. The company’s new CEO Mark Tritton called the results “unsatisfactory” in a statement and said that the company has to create a durable business model for long-term profitable growth.
The stock plunged 8% in extended trading on the report.
Here’s how the retailer did during its fiscal third quarter compared with what analyst were expecting, based on Refinitiv data:
- Loss per share of 38 cents, adjusted, vs. earnings of 2 cents expected
- Revenue: $2.76 billion…