UNION, N.J. — Bed Bath & Beyond Inc. today reported a fiscal second-quarter loss of $73.2 million, after reporting a profit in the same period a year earlier.
The company said it had a loss of 72 cents per share. Earnings, adjusted for one-time gains and costs, came to 4 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The home goods retailer posted revenue of $1.98 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $2.06 billion.
For the current quarter ending in December, Bed Bath & Beyond said it expects revenue in the range of $1.96 billion to $2 billion. Analysts surveyed by Zacks had expected revenue of $2.02 billion.
The company expects full-year earnings in the range of 70 cents to $1.10 per share, with revenue ranging from $8.1 billion to $8.3 billion.
Bed Bath & Beyond shares have risen 25% since the beginning of the year, while the S&P’s 500 index has increased 16%. The stock has climbed 53% in the past 12 months.