Bed Bath & Beyond Is in Deep Trouble After Another Awful Earnings Report
Fiscal 2021 was a year to forget for Bed Bath & Beyond (NASDAQ: BBBY). After entering the year with high hopes for a return to sales and earnings growth under new CEO Mark Tritton, the company repeatedly missed its targets.
Bed Bath & Beyond ended the year on a particularly sour note, as its recent fourth-quarter earnings report revealed. With business conditions expected to remain challenging, Bed Bath & Beyond's turnaround effort may be dead on arrival.
Entering fiscal 2021, Bed Bath & Beyond expected to generate adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) between $500 million and $525 million, on revenue of $8 billion to $8.2 billion. After logging solid results in the first quarter, the company raised its revenue guidance range to between $8.2 billion and $8.4 billion, and its adjusted EBITDA guidance range to between $520 million and $540 million. At that time, Bed Bath & Beyond set a full-year target for adjusted earnings per share (EPS) of $1.40 to $1.55.
Source Fool.com
