Stock down 22% in early trading, quarterly loss widens

  • Shares of Beyond (Bed Bath & Beyond) slumped after 1Q revenue miss
  • Stock down 22% in early trading, down 38% this year
  • First-quarter revenue up 0.3% to $382.3 million, missing analyst forecasts
  • Quarterly loss widened to $72.2 million, adjusted loss of $1.22 a share
  • Management reevaluating investment decisions for sustainable growth

Shares of Beyond, the former Overstock.com that now operates as Bed Bath & Beyond, slumped after first-quarter revenue came in flat while its losses widened. The stock was down 22% at $17.16 in early trading. Shares are now down 38% this year. The retailer reported after the bell on Monday that first-quarter revenue ticked up 0.3% to $382.3 million, missing analyst forecasts for $389.4 million, according to FactSet. Beyond’s quarterly loss widened to $72.2 million, or $1.58 a share, from $10.3 million a year ago. An adjusted loss of $1.22 a share was wider than the 85 cents a share expected by analysts, according to FactSet. Beyond management said it is reevaluating investment decisions to target more sustainable growth.

Factuality Level: 8
Factuality Justification: The article provides factual information about Beyond’s first-quarter revenue, losses, stock performance, and analyst expectations. It does not contain irrelevant information, misleading details, sensationalism, or bias. The information presented is clear and based on reported facts.
Noise Level: 2
Noise Justification: The article provides relevant information about Beyond’s financial performance, including revenue, losses, and stock movement. It sticks to the topic without diving into unrelated territories. The information is supported by data and examples, such as revenue figures and analyst forecasts. However, it lacks in-depth analysis, accountability of decision-makers, or actionable insights, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Beyond (Bed Bath & Beyond)
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the financial performance of Beyond (Bed Bath & Beyond). There is no mention of an extreme event.
Public Companies: Bed Bath & Beyond (BBBY)
Key People: Dean Seal (Author)

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Reported publicly: www.marketwatch.com