Sterne Agee Maintains Neutral on Bed Bath & Beyond

Sterne Agee is out with its report today on Bed Bath & Beyond

, maintaining Neutral. In its report, Sterne Agee writes, "Maintaining Neutral rating. While we continue to view BBBY as a strong and consistent operator with viable long-term growth prospects, we remain concerned in the near to intermediate term about negative mix shift to lower margin categories (both within the core Bed Bath & Beyond concept and from growth of the newer/lower margin concepts) and the potential for more normalized SG&A leverage on potentially decelerating comp trends (given an already lean corporate expense philosophy)." At the time of posting, shares of BBBY were trading at $59.74, down 0.19% from Monday's close.