Bed Bath & Beyond said that its results in 2020 'will be unfavorably impacted' by the crisis, and so it will not be offering a first-quarter nor full-year outlook.
Bed Bath & Beyond said that its results in 2020 "will be unfavorably impacted" by the coronavirus crisis, and so it will not be offering a first-quarter nor full-year outlook.Bed Bath & Beyond
The company said despite widespread store closures, it still has the financial flexiblity to make key investments in e-commerce and strengthen its ability to offer shoppers the option to buy products online and pick-up them at its stores. Bed Bath & Beyond shares jumped roughly 13% in after-hours trading. The stock had closed the day down more than 17%. The company has a market cap of about $563.7 million.Earnings per share: 38 cents, adjustedWall Street had anticipated earnings per share of 20 cents, adjusted, on revenue of $3.07 billion, based on Refinitiv consensus estimates.
The retailer said Wednesday that it plans to cut back discretionary expenses like business travel and advertising, and costs related to the maintenance of stores that are sitting dark.
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