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Bed Bath & Beyond tumbles after Q4 results (BBBY)

Bed Bath & Beyond tumbles after Q4 results (BBBY)




Bed Bath & Beyond reported mixed fourth-quarter results on Wednesday evening.




Shares plunged 8.5% as investors digested the report.




Bed Bath & Beyond was up 71% this year through Wednesday, spurred by an activist investor's call for a management shakeup.




Watch Bed Bath & Beyond trade live.




Bed Bath & Beyond reported mixed fourth-quarter results and guidance on Wednesday evening, sending shares down 8.5% early Thursday.
"Shares are down as investors digest the reality that a sustained trend of MSD% declines in brick & mortar comps and EBIT% deterioration suggest an inflection in fundamentals is not in the near-term horizon," Jefferies analyst Jonathan Matuszewski said in a Thursday note to clients. He has a "hold" rating and $17 price target — about 4% below where shares were trading Thursday.
The retailer lost $1.92 a share on a GAAP basis, missing the earnings of $1.11 that analysts surveyed by Bloomberg were expecting. On an adjusted basis, excluding a non-cash goodwill and tradename impairments charge, Bed Bath & Beyond earned $1.20 a share, topping the $1.11 that was anticipated.
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