New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 10, 2014
11:47 EDTBBBY, PIR, WSMBed Bath & Beyond approaches 52-week low after profit forecast disappoints
Shares of home furnishings retailer Bed Bath & Beyond (BBBY) are falling after the company's first quarter profit outlook significantly trailed analysts' consensus estimate. WHAT'S NEW: Last night, Bed Bath & Beyond reported Q4 earnings per share of $1.60 and revenue of $3.2B, compared to expectations of $1.60 and $3.22B, respectively. Q4 same-store sales increased 1.7%. WHAT'S NOTABLE: The company forecast Q1 EPS of 92c-96c, significantly trailing the consensus of $1.04, while Q1 revenue was seen increasing 2%-3.5%, compared to consensus of $2.37B. The company expects its Q1 SSS to increase 1%-2.5%. For FY14, EPS is seen by the company to grow by a mid-single digit percentage, compared to consensus of $5.27. FY14 revenue is forecast to grow 4%, versus consensus of $12.07B. ANALYST REACTION: This morning, Bank of America Merrill Lynch downgraded the stock to Neutral from Buy citing Bed Bath & Beyond's disappointing 2014 guidance. The firm lowered its price target on shares to $72 from $87. Two other firms, Credit Suisse and Argus, both lowered their respective price targets on the shares as well. OTHERS TO WATCH: Other companies in the home furnishings space include Williams-Sonoma (WSM) and Pier 1 Imports (PIR), which reported its own fourth quarter results this morning. PRICE ACTION: In late morning trading, Bed Bath & Beyond tumbled $4.26, or about 6.3%, to $63.65 on more than three times its average daily trading volume. The stock is approaching its 52-week low of $62.12. Including today's slide, the stock is down about 3% over the past twelve months. Pier 1, which reported better than expected Q4 revenue and authorized a new $200M stock repurchase program, was up 10c, or 0.55%, to $18.32.
News For BBBY;PIR;WSM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 31, 2014
06:07 EDTWSMWilliams-Sonoma to pay $700,000 penalty for faulty shades
The U.S. Consumer Product Safety Commission announced that Williams-Sonoma has agreed to pay a $700,000 civil penalty. The agreement resolves CPSC staff’s charges that the firm knowingly failed to report to CPSC immediately, as required by federal law, a defect involving Pottery Barn Kids Roman shades with exposed inner cords. Williams-Sonoma sold the Roman shades nationwide, through its Pottery Barn Kids brand, between January 2003 and November 2007, for $30 to $60. CPSC staff charged that the Pottery Barn Kids Roman shades posed a strangulation hazard to young children. By the time that Williams-Sonoma filed its full report with CPSC, seven consumers had reported that children had become entangled on the inner cords of the Pottery Barn Kids Roman shades. Williams-Sonoma ultimately recalled approximately 85,000 of the Roman shades in cooperation with CPSC. Williams-Sonoma has agreed to continue to maintain the compliance program and system of internal controls referenced in an earlier civil penalty settlement with CPSC, designed to ensure compliance with the safety statutes and regulations enforced by the Commission. In agreeing to the settlement, Williams-Sonoma neither admits nor denies CPSC staff’s charges.
October 30, 2014
14:22 EDTBBBYBed Bath & Beyond upgraded to Outperform from Underperform at Wolfe Research
Subscribe for More Information
October 22, 2014
07:06 EDTBBBYBed Bath & Beyond management to meet with Deutsche Bank
Field trip to company headquarters to be held in Union, NJ on October 22 hosted by Deutsche Bank.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use