Bed Bath & Beyond is slipping as its struggles continue
- Bed Bath & Beyond had a descent quarter, but investors aren't impressed.
- Analysts are skeptical the retailer's weak net-sales growth will subside soon.
- Shares slid as much as 7% Thursday.
- Watch Bed Bath and Beyond trade in real time here.
Bed Bath & Beyond shares are sliding Thursday, down as much as 7%, after the retailer beat on earnings and reported in line revenue.
The retailer earned $0.38 on revenue of $2.7 billion. Wall Street was expecting earnings-per-share of $0.31 on $2.7 billion of revenue.
Bed Bath & Beyond stuck by its full-year guidance after posting weak net sales growth of 0.4% year-over-year, and a disappointing comparable sales decline of 0.6% YoY. Management said it expects full-year 2018 EPS to be in the low-to-mid $2 range, missing the Wall Street consensus of $2.28.
"When can it plug the drain?"UBS analyst Michael Lasser asked. "Bed Bath and Beyond's first-quarter helped serve as a reminder that its transformation remains a work in progress." He left his price target unchanged at $19 a share.
Bed Bath and Beyond is down 12% this year.
