Bed Bath & Beyond Inc. (NASDAQ:BBBY) stock observed trading -14.92% off 52-week high price. On the other end, the stock has been noted 127.77% away from low price over the last 52-weeks. The stock disclosed a move of 11.13% away from 50 day moving average and 28.28% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.89% off 20-day moving average. It has market cap of $2.14B and dividend yield of 4.08%.
On Jan. 8, 2020, Bed Bath & Beyond Inc. (NASDAQ:BBBY) released financial results for the third quarter of fiscal 2019 ended November 30, 2019.
I am delighted to have the opportunity to lead this iconic company, stated Mark J. Tritton, Bed Bath & Beyond’s President and CEO. Our performance in the third quarter was unsatisfactory and underscores the imperative for change and strengthens our sense of priorities and purpose. We must respond to the challenges we face as a business, including pressured sales and profitability, and reconstruct a modern, durable model for long-term profitable growth. Fortunately, the foundation of the Company’s transformation is well underway, due in large part to the direction and support of the Board. We will be finalizing the details of our strategic plan over the next few months and appreciate your patience as we embark and pursue this journey to position Bed Bath & Beyond to deliver long-term, sustainable growth.
Fiscal 2019 Third Quarter Results
For the fiscal 2019 third quarter, the Company reported a net loss of $(0.31) per diluted share ($(38.6) million), which included a net benefit of $0.07 from the favorable impact from an adjustment to the incremental inventory reserve for future markdowns associated with its inventory initiative, that was partially offset by a non-cash charge for the impairment of certain store-level assets. This compares to net earnings of $0.18 per diluted share ($24.4 million) for the fiscal 2018 third quarter, which included the favorable impact of $0.16 per diluted share from the gain on the sale of a building. Excluding these net favorable impacts in both periods, the Company reported an adjusted net loss of $(0.38) per diluted share ($(46.9) million) for the fiscal 2019 third quarter, compared to adjusted net earnings of $0.02 per diluted share ($2.7 million) for the fiscal 2018 third quarter. Net sales for the fiscal 2019 third quarter were $2.8 billion, a decrease of 9.0% compared to the prior year period. Comparable sales in the fiscal 2019 third quarter declined 8.3%.
The USA based company Bed Bath & Beyond Inc. moved with change of -1.13% to $16.65 with the total traded volume of 8584633 shares in last session versus to an average volume of 7.35M. The stock was observed in the 5 days activity at -3.76%. The one month performance of stock was 12.73%. BBBY’s shares are at 67.42% for the quarter and driving a 41.34% return over the course of the past year and is now at -3.76% since this point in 2018. Right now the stock beta is 1.39. The average volatility for the week and month was at 4.83% and 4.53% respectively. There are 128.53M shares outstanding and 120.12M shares are floated in market.
David Yen is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Business News category for our site. David Yen is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 5 years of investment experience; an M.B.A. from Louisiana State University and also certified in Risk Management Assurance.
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