UNION, N.J. — Bed Bath & Beyond Inc. today reported a fiscal fourth-quarter loss of $159.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the company said it had a loss of $1.79. Losses, adjusted for restructuring costs and asset impairment costs, were 92 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The home goods retailer posted revenue of $2.05 billion in the period, which also fell short of Street forecasts. Nine analysts surveyed by Zacks expected $2.08 billion.
For the year, the company reported that its loss widened to $559.6 million, or $5.64 per share. Revenue was reported as $7.87 billion.
Bed Bath & Beyond shares have risen 23% since the beginning of the year, while the S&P’s 500 index has dropped almost 8%. The stock has fallen 39% in the past 12 months.