Bed Bath & Beyond needs a miracle

After a grim series of events, Bed bath and beyond needs nothing less than a holiday miracle. The question is: Who will deliver it?

Maybe not the customers. Bed Bath & Beyond’s last quarter was as sad as the company had previously telegraphed. The company’s same-store sales were down 26% in its quarter ended Aug. 27 from a year earlier, in line with the previous update. Even the normally better-performing buybuy Baby banner saw same-store sales drop by a high percentage of teens from a year earlier. The net loss was $366.2 million, nearly three times the figure reported by Wall Street analysts. The company maintained its outlook for the full fiscal year ending next February, still expecting same-store sales to decline about 20%.


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