Bed Bath & Beyond stock tumbles 9% after mixed quarterly results

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Bed Bath & Beyond (BBBY.US) stock plunged more than 9.0% after the company reported mixed quarterly figures. During the Q4 period the retailer earned an adjusted 40 cents per share well above analysts’ expectations of 31 cents per share. However revenue of $ 2.62 billion came in slightly below market projections of $ 2.63 billion as net sales during the fourth quarter fell about 16%. Company said that ongoing store closures and divestments negatively affected its quarterly results. Bed Bath & Beyond reaffirmed its fiscal 2021 sales outlook that it gave back in January, which calls for sales to be within a range of $8 billion and $8.2 billion which comes in line with analysts’ expectations of $8.18 billion.

Bed Bath & Beyond (BBBY.US) stock launched today's session with a massive bearish price gap, however sellers failed to uphold momentum and price bounced off the support at $24.07. The nearest major resistance zone lies near the lower limit of the triangle formation. Source: xStation5

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Bed Bath & Beyond stock tumbles 9% after mixed quarterly results

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