UNION, N.J. — Bed Bath & Beyond Inc. (BBBY) today reported a loss of $276.4 million in its fiscal third quarter.
The company said it had a loss of $2.78 per share. Losses, adjusted for pretax expenses and restructuring costs, came to 25 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The home goods retailer posted revenue of $1.88 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $1.96 billion.
For the current quarter ending in February, Bed Bath & Beyond said it expects revenue in the range of $2.1 billion. Analysts surveyed by Zacks had expected revenue of $2.28 billion.
The company expects full-year revenue of $7.9 billion.
Bed Bath & Beyond shares have decreased slightly more than 8% since the beginning of the year, while the S&P’s 500 index has climbed 25%. The stock has fallen 32% in the past 12 months.