UNION, N.J. — Bed Bath & Beyond Inc. today reported a loss of $357.7 million in its fiscal first quarter.
On a per-share basis, the company said it had a loss of $4.49. Losses, adjusted for pretax expenses and asset impairment costs, were $2.83 per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of $1.33 per share.
The home goods retailer posted revenue of $1.46 billion in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $1.51 billion.
Bed Bath & Beyond shares have declined 55% since the beginning of the year, while the S&P’s 500 index has declined 20%. The stock has declined 79% in the past 12 months.