BED BATH & BEYOND (BBBY)
EARNINGS RELEASE - JULY 8 (AMC)
EARNINGS EXPECTATIONS:
THIS QTR: EPS: -1.22/share REV: 1,390/M
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LAST QTR: EPS: .20/share ACTUAL: .38/share (BEAT)
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NEXT QTR: EPS: -.43/share REV: 2,210/M
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FULL YR: EPS: -1.78/Share REV: 9,030/M
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BEAT/MISS RECORD: 47% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) 22.5, -20.06, 6.48
EXPECTED JUMP MOVE THIS QUARTER: 15%
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*** With market volatility at extremes there is greater risk in trading these events which may not react as they would under normal market conditions. Please take extra caution before trading.
Links To Latest News and Headlines
(Bloomberg) — Steve Johnson bought shares of Bed Bath & Beyond Inc. expecting a GameStop Corp.-like trading frenzy. Having pocketed some profit, the top-performing Australian fund manager is sticking with the stock for its long-term prospects.Forager Funds Management Pty Ltd. invested in the home-goods chain in mid-January as the Reddit-fueled short squeeze on GameStop was starting to unfold, said Johnson, Forager’s chief investment officer.“We saw what was going with GameStop and it was fairly obvious that it was another candidate for similar action,” Johnson said of Bed Bath & Beyond. “That squeeze was simply a catalyst for us to accelerate what we probably would have done, and we got lucky and made some short-term profit out of something that we think is going to be a good long-term investment.”His Sydney-based Forager International Shares Fund, which invests in a wide range of beaten-down stocks, has gained 32% over the past year and is beating 96% of peers.Short sellers have targeted Bed Bath & Beyond as it aims to transform its business in the wake of activist pressure. The firm’s revamp of its management team and focus on online sales could help it return to growth, Johnson said.The stock has almost halved since a peak in late January. The company posted a lower-than-expected gain for total enterprise same-store sales, a key metric, in the quarter ended Nov. 28. On the bright side, web sales surged 94% on a comparable basis at the namesake brand. The shares closed 4.7% higher on Wednesday in New York.Johnson’s also invested in companies that have gone public through special-purpose acquisition firms, including magazine publisher-turned licensing firm PLBY Group Inc. and industrial services provider APi Group Corp., a top holding in the A$218 million ($171 million) fund.In addition, Johnson is focusing on U.K. shares, given that market is “incredibly under-invested,” he said. The fund holds Lloyds Banking Group Plc on expectations that the lender will perform well over the next four to six years.(Adds Bed Bath & Beyond share performance in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Bed Bath & Beyond Inc. said Wednesday that it will launch six private-label brands in the first six months of the home goods retailer’s fiscal year. In total, the company plans to launch at least eight private labels for the year. Bed Bath & Beyond is scheduled to report fiscal fourth-quarter earnings on April 14. The first of these brands is expected to launch ahead of the back-to-college and holiday seasons. The company expects private-label sales penetration to grow to 30% in three years from 10% currently, and owned brands would improve gross margins. Bed Bath & Beyond stock was up 4% in Wednesday trading, and has soared 191% over the last year. The benchmark S&P 500 index is up 27.7% for the last 12 months.
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Bed Bath & Beyond (Nasdaq: BBBY) today announced the biggest change in its product assortment in a generation, with plans to launch at least eight new Owned Brands in fiscal 2021, with six of these being launched sequentially in the first six months of the fiscal year. Marking another major step in its recently announced comprehensive growth strategy, the Company will launch thousands of new products available only at Bed Bath & Beyond to drive differentiation, preference, and authority in the $180 billion Home market.
After years of lackluster performance, the selection of former Target executive Mark Tritton as CEO in October 2019 provided a glimmer of hope. For example, in September it unveiled same-day delivery of certain online orders, one-upping home goods rivals like Amazon, and putting pressure on other local shopping alternatives like Walmart.
StockJumpers analysis and trade plans are uploaded generally 1 HOUR BEFORE MARKETS CLOSE (3PM EST) for most events.
ANALYSIS:
The trajectory analysis models have the market reaction as negative on the release. We were hoping for a more positive outcome on better than expected numbers, but it looks like a miss and the investor confidence may not be there.
We are biased SHORT on this event
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OUR TRADE PLAN:
ENTRY: SELL – end of day
STOP LOSS: N/A
INITIAL PROFIT TARGET: 12%
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TRADE ASSIST: N/A
POST RELEASE ACTION:
There is a significant amount of data behind the scenes involved in the analysis and trade plan tab above, that does not get put into the report. Too much information for traders often confuses things – so this is stripped down to only what is needed to make the best possible decision(s) on trading the trajectory.
Members who are too busy to manual trade can use Trade Assist. For more information visit here
| Avg Daily Volume: 1,554,955 Market Cap: 5.29B Sector: None Short Interest: 11.96 |
Ticker delayed 20 minutes
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by Team Stockjumpers