(Bloomberg) — Bed Bath & Beyond Inc. fell as much as 25% in late trading Wednesday after withdrawing its financial guidance following another quarter of declining sales. New Chief Executive Officer Mark Tritton said that the “unsatisfactory” performance “underscores the imperative for change.”Same-store sales, a key measure for retailers, fell 8.3% in the company’s third quarter, the 11th consecutive decline. That was a deeper slide than the 4.9% drop seen by analysts, according to Consensus Metrix.Key InsightsThe company withdrew its full-year outlook, saying only that profit and sales will remain under pressure in the current quarter. The company has struggled …read more
Source:: Yahoo Finance
