(Reuters) – Home furnishing retailer Bed Bath Beyond Inc (BBBY.O) on Wednesday reported a surprise fall in quarterly comparable store sales amid intense competition.
Total same-store sales fell 0.6 percent in the second quarter ended Sept. 1, continuing their slide for the sixth straight quarter. Analysts on average had expected a rise of 0.33 percent in comparable sales, according to Thomson Reuters I/B/E/S.
The New York-based company’s net income fell to $48.6 million, or 36 cents per share, from $94.2 million, or 67 cents per share, a year earlier.
Reporting by Soundarya J in Bengaluru; Editing by Maju Samuel