Source: Bed Bath & Beyond
Bed Bath & Beyond reported Wednesday a double-digit decline in fiscal fourth-quarter sales, which were pressured by store closures and divestments from a bigger turnaround plan.
Its shares fell more than 9% in midday trading as investors expected to find clearer signs of progress.
“There are some positive things, but it’s still moving,” said Jessica Ramirez, retail analyst for Jane Hali & Associates. “Knowing the Street, they want these turnarounds quite quickly. By this time, investors want things to be a bit in better shape.”
The big-box retailer reaffirmed a prior sales outlook for the coming fiscal year, noting that positive sales momentum has carried into the…