Bed Bath & Beyond has had a rough week, but the retailer saw shares surge when its most recent earnings report included signs of profit strength.
Store comps in the quarter fell about 1.8%, reflecting a decline in store transactions, but included “strong sales growth in … customer-facing digital channels,” according to a Seeking Alpha transcript of an earnings call. Net sales rose 2.6% year over year to about $3 billion, and while net income fell to $24.4 million from $61.3 million a year ago, the result beat expectations.
