BBBY - Why The Container Store Stock Got Crushed Today
Shares of The Container Store (NYSE: TCS) fell sharply on Thursday, losing as much as 15% earlier in the session, ultimately ending the day down 14.6%.
There didn't appear to be any company-specific news driving down the organization-and-storage products retailer, but evidence suggests that comments made by the executive from another home-goods retailer brought down The Container Store, as well.
Bed Bath & Beyond (NASDAQ: BBBY) reported its second-quarter financial results after the market close on Wednesday, and the results were dismal. The company missed analysts' consensus estimates on both the top and bottom lines. While that was bad enough, the home-furnishings retailer also slashed its full-year profit forecast.
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Why The Container Store Stock Got Crushed Today