BBBY - Bed Bath & Beyond Non-GAAP EPS of -$3.65 misses by $0.84 revenue of $1.26B misses by $80M
- Bed Bath & Beyond press release ( NASDAQ: BBBY ): Q3 Non-GAAP EPS of -$3.65 misses by $0.84 .
- Revenue of $1.26B (-33.0% Y/Y) misses by $80M .
- Shares +6.8% PM.
- Comparable sales decline of 32%.
- CEO comment: "We are implementing our plan expeditiously while managing our financial position in a changing landscape. We are delivering on our aggressive second half commitment of $250 million in SG&A optimization, or $500 million in annualized savings. We are also on track to achieve the 150 store closures that we previously outlined, which will further enable us to allocate resources according to customer demand. Our organization is more streamlined and we have adopted a more focused infrastructure that reflects our current business."
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Bed Bath & Beyond Non-GAAP EPS of -$3.65 misses by $0.84, revenue of $1.26B misses by $80M