Shares in Bed Bath & Beyond (BBBY) plunged 9% in pre-market trading after the home goods retailer reported a 49% decline in net sales in the first quarter due to temporary store closures during the coronavirus pandemic.The stock dropped to $9.45 in Thursday’s pre-market trading as the retailer announced that it will close about 200 of its stores over the next two years to cut costs. Net sales in the first quarter dropped 49% to $1.3 billion year-on-year falling short of the $1.39 billion estimated by analysts. Bed Bath reported an adjusted net loss of $1.96 per diluted share for …read more
Source:: Yahoo Finance
