Bed Bath & Beyond's Stock Plunges Toward 7-year Low After Disappointing Results

By Tomi KilgoreMarketsMarketWatch Pulse

Shares of Bed Bath & Beyond Inc. sank 10% in premarket trade Friday, putting it on track to open at a 7-year low, in the wake of the home goods retailer's disappointing results. The stock is also in danger of the biggest one-day post-results decline since Q3 2013 results were reported in January 2014. The company reported late Thursday, earnings and revenue that missed expectations, and same-store sales that declined, compared with expectations of an increase. The stock, on track to open at the lowest price seen during regular session hours since May 7, 2010, has tumbled 17% year to date through Thursday, while the SPDR S&P Retail ETF has lost 11% and the S&P 500 has gained 8.7%.

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