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Bed Bath & Beyond is slipping as its struggles continue (BBBY)


Bed Bath & Beyond shares are sliding Thursday, down as much as 7%, after the retailer beat on earnings and reported in line revenue. 

The retailer earned $0.38 on revenue of $2.7 billion. Wall Street was expecting earnings-per-share of $0.31 on $2.7 billion of revenue.

Bed Bath & Beyond stuck by its full-year guidance after posting weak net sales growth of 0.4% year-over-year, and a disappointing comparable sales decline of 0.6% YoY. Management said it expects full-year 2018 EPS to be in the low-to-mid $2 range, missing the Wall Street consensus of $2.28.

 "When can it plug the drain?"UBS analyst Michael Lasser asked. "Bed Bath and Beyond's first-quarter helped serve as a reminder that its transformation remains a work in progress." He left his price target unchanged at $19 a share. 

Bed Bath and Beyond is down 12% this year. 

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