tradingigbtc

Bed Bath & Beyond Must Hold This Level After Huge Earnings Rally

What a week it has been for Bed Bath & Beyond  (BBBY) – Get Report. Shares are up about 40% so far, helped along by the stock’s 33% gain on Thursday.

The move came after the company delivered better-than-expected earnings.

The struggling retailer generated non-GAAP earnings of 50 cents a share, easily beating expectations by 79 cents. Revenue of $2.69 billion sank just 1.1% year over year and beat expectations by $70 million.

The impressive results weren’t contained to just the headline numbers. Comp-store sales growth of 6% breezed past estimates looking for a 2.1% contraction.

Source Article