Wednesday Wrap: Here Comes the Weather (excuses)
Earnings season launched last night and today we’re treated to what many are expecting to only be the first of a long line of weather-related excuses for companies missing expectations in Q1.
This evenings’ sacrificial lamb is Bed Bath & Beyond $BBBY, who after today’s close blamed slumping quarterly sales on lousy weather. At the time of this writing, shares of $BBBY were trading down over 5% from their closing 4pm print. This doesn’t bode well for the rest of the retail and even homebuilding sectors:
— MarketMaker (@MarketMaker) Apr. 9 at 02:35 PM
…and it’s starting to look like the next quarterly report from $BBBY doesn’t hold any more promise:
$BBBY After this winter; that BBBY would actually be guiding lower for Spring (you know; daffodils, butterflies, etc) does not bode well.
— Abazaba (@Abazaba) Apr. 9 at 02:31 PM
But not everyone is so blue. Some are suggesting perhaps this winter might allow companies to “eat some losses” now, for the betterment of future quarters:
$BBBY now clearly weather killed all retail q1..however one can expect a real nice bounce back q2-3 with spending resuming..long term bull
— Steve (@Stocknut62) Apr. 9 at 01:57 PM
~ Sean McLaughlin (@chicagosean)
Tickers: $BBBYblog comments powered by Disqus
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