Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Jan. 9 (Bloomberg) -- Bed Bath & Beyond Inc. fell the most in more than 18 months after the retailer reported quarterly net income and forecast fourth-quarter profit that trailed analysts’ estimates.

The shares declined 12 percent to $69.75 at the close in New York, for the largest drop since June 2012.

Net income was $237.2 million, or $1.12 a share, in the third quarter ended Nov. 30, the company said in a statement yesterday after the markets closed. The average projection of 24 analysts was $1.16 a share, according to data compiled by Bloomberg. Earnings in the fourth quarter are forecast to be between $1.60 and $1.67 a share, less than the $1.79 analysts estimated.

The retailer’s results included most of the Black Friday shopping weekend, which saw its first spending decline since 2009 in the four days beginning with the Nov. 28 Thanksgiving holiday. U.S. retail sales rose 2.7 percent in November and December, the smallest increase since 2009, as stores’ profit-eating discounts failed to draw shoppers to malls, researcher ShopperTrak said yesterday.

Bed Bath & Beyond said comparable-store sales in the quarter rose 1.3 percent. Analysts projected a gain of 2.7 percent, the average of 13 estimates compiled by Bloomberg.

Shares of the Union, New Jersey-based company rose 44 percent last year, compared with a 30 percent advance for the Standard & Poor’s 500 Index.

To contact the reporter on this story: Duane D. Stanford in Atlanta at

To contact the editor responsible for this story: Robin Ajello at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.