Why Bed Bath & Beyond, Inc. Stock Dropped Today

Shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY) were down 12.2% as of 11 a.m. EST Thursday after the home goods retailer announced stronger-than-expected quarterly results, but followed with cautious forward-looking commentary.

More specifically on the former, Bed Bath & Beyond's fiscal third-quarter 2017 revenue was roughly flat compared to the same year-ago period, at $3.0 billion -- slightly above investors' expectations -- including a modest 0.3% decline in comparable-store sales. On the bottom line, that translated to net earnings of $61.3 million, or $0.44 per diluted share, above consensus estimates for $0.37 per share and down from $0.85 in last year's fiscal third quarter.

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Source: Fool.com