Bed Bath & Beyond stock (BBBY) rallies on upbeat outlook

Follow us on Google News:
 Bed Bath & Beyond stock (BBBY) rallies on upbeat outlook
Image source: Daniil Cherepanov,Shutterstock


  • Bed Bath & Beyond stock returned 81 percent year to date.
  • Fiscal 2021 net sales are projected in the range of US$8.2 billion to US$8.4 billion.
  • Bed Bath & Beyond reported a 49 percent growth in its first-quarter net sales.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) stock jumped as much as 30 percent on Wednesday’s trading as the retailer raised its outlook for fiscal 2021 after posting a strong fiscal first-quarter result.

As of 1:53 pm ET, Bed Bath & Beyond was trading at US$31.96, up 6.85 percent.

The New Jersey-based company has US$3.45 billion in market capitalization. The stock returned over 81 percent year to date. The shares have a 52-week price range of US$7.39 to US$53.90.

Earlier in this month, Bed Bath & Beyond was among the stocks that gained momentum following the interest from retail investors.

READ MORE: Why is Cerevel Therapeutics stock (CERE) trending today?

Fiscal year 2021, second quarter forecast

Bed Bath & Beyond now projects its full fiscal year net sales to come in between US$8.2 billion and US$8.4 billion, compared to the previous guidance range of US$8.0 billion to US$8.2 billion.

Comparable sales are anticipated to grow in low-single digits from the second quarter to the fourth quarter. The company earlier forecasted comparable sales to remain flat during the period.

Adjusted EBITDA is expected to be between US$520 million and US$540 million, up from the prior outlook range of US$500 million to US$525 million. Adjusted EPS in fiscal 2021 is anticipated to be between US$1.40 and US$1.55.

Meanwhile, Bed Bath & Beyond expects fiscal second-quarter net sales in the range of US$2.04 billion to US$2.08 billion. Adjusted EBITDA is projected between US$150 million and US$160 million, while adjusted EPS is forecasted in the range of 48 cents to 55 cents.

READ MORE: Strong Q1 Results, Improved Outlook Boost Signet, RH Stocks

Source: Pixabay

Strong fiscal first-quarter result

Bed Bath & Beyond posted a 49 percent year-over-year growth in its net sales to US$1.95 billion during the fiscal second quarter ended May 29. Comparable sales surged 86 percent, compared with the year-ago quarter, while it grew 3 percent compared to the same quarter in fiscal 2019.

Net loss during the three months reduced to US$50.9 million, or 48 cents per share, from US$302.3 million, or US$2.44 per share, in the first quarter of fiscal 2020.

READ MORE: Bsquare (BSQR), Verb (VERB): 2 rising tech stocks

Adjusted EBITDA came in at US$86 million, while adjusted EPS was 5 cents, against the adjusted loss of US$1.96 per share in the year-ago period.

Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.

Featured Articles