Bed Bath and Beyond Misses Q2 Estimates, Earnings Down 17% YOY

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Bed Bath and Beyond (NYSE: BBBY)

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shares have quickly recovered after being down nearly 3% after missing on Q2 earnings this afternoon.The reason for the decline? The nations largest home furnishing retailer posted earnings of $1.11 per versus analyst's estimates of $1.16. Earnings were down 17% year-over-year.Bed Bath and Beyond also missed on revenues, coming in at $2.988 billion the consensus estimate of $3.05 billion. Comparable sales were down 1.2% according to the Q2 results, however digital same-store sales was a bright spot for the company, growing over 20%. Bed Bath and Beyond has full year EPS estimates in the range of 4.50-5.00 compared with estimates of 4.83.