×

Bed Bath & Beyond shares struggle amid weak first-quarter results

Shoppers exit a Bed Bath & Beyond Inc. store in New York, U.S.
Michael Nagle | Bloomberg | Getty Images
Shoppers exit a Bed Bath & Beyond Inc. store in New York, U.S.

Shares of Bed Bath & Beyond struggled for gains Thursday amid the retailer's disappointing fiscal first-quarter earnings.

The stock briefly fell more than 4.5 percent, before closing up 1.5 percent.

The company reported quarterly profit of 80 cents per share after the close Wednesday, 6 cents a share below estimates. Revenue also came below forecast as comparable store sales fell 0.5 percent during the quarter. The retailer did affirm its prior profit outlook for the full year in a conference call with its investors last night.

The retail company expects its fiscal 2016 net earnings per share to be "comfortably within the $4.50 to just over $5.00 range" that it has earned over the past several years, during a heavy investment phase, according to a release.

Bed Bath & Beyond's stock has fallen sharply this year, shedding more than 9 percent.

BBBY 2016 Chart