Bed Bath & Beyond Falls as Profit Forecast Trails Estimates
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Bed Bath & Beyond Inc., the operator of about 1,500 home-goods and baby-product stores, fell the most in six months after forecasting second-quarter profit that was less than analysts’ estimated amid competition from online retailers.
The shares slid as much as 9.5 percent to $55.33 in New York, the biggest intraday decline since Jan. 9. The Union, New Jersey-based company already had retreated 24 percent this year through yesterday, compared with a 6 percent gain for the Standard & Poor’s 500 Index.