Why Shares of Bed Bath & Beyond Are Surging Today

Shares of retailer Bed Bath & Beyond (NASDAQ: BBBY) were moving sharply higher on Thursday after the company reported quarterly earnings that were well above Wall Street's consensus estimate.

As of 11:45 a.m. EDT, Bed Bath & Beyond's shares were up 19.1% from Wednesday's closing price.

In a report after the markets closed on Wednesday, Bed Bath & Beyond said that it earned $0.38 per share in the quarter that ended on March 2, the fourth quarter of the company's 2019 fiscal year. That was a 68% decline from the year-ago period but well above the Wall Street consensus estimate of just $0.20 per share.

Source Fool.com