Supply chain issues pressure Bed Bath & Beyond in 3Q

Bed Bath & Beyond’s fiscal third-quarter loss widened, with the home goods retailer saying supply chain issues are continuing to squeeze its business

Losses widened at Bed Bath & Beyond as a tangled global supply chain continued to squeeze sales and the home goods chain lowered expectations for its final fiscal quarter, and also its full-year revenue.

The Union, New Jersey, company lost $276.4 million, or $2.78 per share, for the three months ended Nov. 27. The per-share losses adjusted for restructuring costs and other items was 25 cents, much worse than the break-even quarter industry analysts had projected, according to Zacks Investment Research.

The company last year lost $75 million in the quarter, or 61 cents per share.

Revenue was $1.88 billion, down sharply from $2.62 billion and also short of the $1.96 billion that Wall Street was looking for.