Home furnishings retailer Bed Bath & Beyond slashed its third-quarter profit forecast and warned that its comparable sales will come in at about 1 percent for the fiscal fourth quarter through Christmas.
The company's shares fell 6.3 percent in late evening trading on Tuesday.
Bed Bath & Beyond now expects third quarter earnings of about $1.07 to $1.10 per share, down from its prior expectation of $1.14 to $1.21 per share.
The company also said it expects sales in the quarter to grow by 0.3 percent to about $3.0 billion. It had earlier expected sales to increase by about 1.8 to 4.0 percent.