New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 26, 2014
11:20 EDTBBBY, WSM, PIR, RH, KIRKBed Bath & Beyond sinks after results, outlook miss estimates
Shares of home furnishings retailer Bed Bath & Beyond (BBBY) hit a fresh 52-week low after the company's first quarter results and second quarter profit outlook missed analysts' consensus estimates. WHAT'S NEW: Last night, Bed Bath & Beyond reported Q1 EPS of 93c and revenue of $2.66B, trailing analysts' consensus estimates of 94c and $2.69B, respectively. Q1 comparable sales grew 0.4% versus 3.4% last year. WHAT'S NOTABLE: The company modeled Q2 EPS of $1.08-$1.16, versus consensus of $1.20, while Q2 revenue was seen growing 2%-4%, compared to consensus of $2.92B. Q2 same store sales are seen growing 1%-3%. For fiscal 2014, EPS is seen increasing by a mid-single digit percentage and revenue is expected to grow 4%. FY14 SSS is expected to grow 3%. On the company's earnings conference call, management said it was "cautiously optimistic about the balance of the fiscal year." ANALYST REACTION: This morning, JP Morgan lowered its price target on the shares to $65 from $75 after the company's Q1 comparable sales and gross margin missed expectations. The firm kept a Neutral rating on the stock. Morgan Stanley said Bed Bath & Beyond remains unattractive given margin pressures and slippage as it executes its omni-channel strategy. The firm lowered its price target to $58 from $63 and reiterated its Underweight rating. PRICE ACTION: In late morning trading, Bed Bath & Beyond fell $5.61, or 9.2%, to $55.50 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $54.95. Including today's pull back, the stock is down approximately 20% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Williams Sonoma (WSM), Pier 1 Imports (PIR), Restoration Hardware (RH), and Kirkland's (KIRK).
News For BBBY;WSM;PIR;RH;KIRK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
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.
October 16, 2014
10:01 EDTRHOn The Fly: Analyst Initiation Summary
Subscribe for More Information
07:21 EDTRHRestoration Hardware initiated with a Buy at Deutsche Bank
Subscribe for More Information

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