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On Wednesday, Bed Bath & Beyond (NASDAQ: BBBY) reported that sales surged 49% to $1.95 billion last quarter, beating analysts’ estimates. Adjusting for Bed Bath & Beyond’s decision to sell off its non-core retail banners last year, sales jumped 73% year over year.
Following this strong recovery from the COVID-19 pandemic, Bed Bath & Beyond raised its guidance for fiscal 2021. CEO Mark Tritton said: “We have started the year in a position of strength and are clearly on track to accomplish our goals.” As a result, Bed Bath & Beyond stock jumped as much as 31% on Wednesday and ended the day with an 11% gain.
Bed Bath & Beyond stock performance. Data by YCharts.