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Why Bed Bath & Beyond's Stock Is Trading Higher Today

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Why Bed Bath & Beyond's Stock Is Trading Higher Today

Bed Bath & Beyond (NASDAQ: BBBY) shares are trading higher on Thursday after the company reported better-than-expected second-quarter EPS and sales results. The company also reported net sales from digital channels grew approximately 88%.

Bed Bath & Beyond reported quarterly earnings of $0.50 per share, which beat the analyst consensus estimate by 73 cents. The company reported quarterly sales of $2.69 billion, which beat the analyst consensus estimate of $2.60 billion.

Bed Bath & Beyond is a home furnishings retailer, operating around 1,500 stores in all 50 states. In addition to 955 Bed Bath & Beyond stores, the firm operates 262 Cost Plus stores, 127 Buybuy Baby stores, 81 Christmas Tree Shops and And That Stores (gifts/housewares), 53 Harmon Face Values stores (health/beauty care), and linens/textile wholesaler Linen Holdings.

Bed Bath & Beyond shares traded up 31.31% to $19.67 on Thursday. The stock has a 52-week high of $19.89 and a 52-week low of $3.43.

 

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