Bed Bath & Beyond Inc (NASDAQ: BBBY) shares are trading lower Wednesday morning after the company reported worse-than-expected top-line results.
Bed Bath & Beyond reported fourth-quarter revenue of $2.05 billion, which came in below the estimate of $2.08 billion. The company reported a quarterly adjusted earnings loss of 92 cents per share, which may not compare to estimates for earnings of 4 cents per share.
Bed Bath & Beyond said it expects sequential comparable sales improvement to occur in the second half of fiscal 2022 versus the first half based on anticipated improvement in supply chain conditions. The company also expects adjusted gross margins to expand modestly year-over-year.
Bed Bath & Beyond said it expects adjusted EBITDA to be higher-year over-year in the second half of fiscal 2022 based on the aforementioned comparable sales and adjusted gross margin expectations.
See Also: Morning Brief: Top Stories Dominating Financial Media on Wednesday, April 13
BBBY 52-Week Range: $12.39 - $44.51
According to data from Benzinga Pro, the stock was down 8.68% at $16.41 at press time.
Photo: Mike Mozart from Flickr.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read at Benzinga