Bed, Bath & Beyond Surges After Surprise Q2 Earnings Beat

Bed, Bath & Beyond Inc.  (BBBY) – Get Report shares surged higher Thursday after the home retailer posted surprise second quarter earnings that topped Wall Street forecasts as online sales continue to surge.

Bed Bath & Beyond said adjusted earnings for the three months ending on August 29, its fiscal second quarter, were pegged at 50 cents per share, well ahead of the Street consensus forecast of 23 cents per share. Group revenues, the company said, were essentially flat to last year at $2.7 billion, but topped analysts’ forecast of a $2.6 billion tally thanks in part to an 89% annual increase in online sales.

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