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Bed Bath & Beyond Jumps to Highest Since 2018 on Sales Gain
- Quarterly results beat ahead of the crucial holiday season
- Comparable sales, a key metric, had a surprise quarterly gain
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Bed Bath & Beyond Inc. shares soared to the highest level in more than two years after the home-goods chain posted a surprise gain in quarterly sales, a sign investors believe that turnaround efforts are paying off ahead of the holiday season.
Comparable-store sales, a key metric, rose 6% in the second quarter ended Aug. 29. Analysts had expected a decline of 1.3%, according to Consensus Metrix. Sales continued to increase last month, according to the company.