NEW YORK, NY / ACCESSWIRE / September 21, 2017 / Shares of Bed Bath and Beyond took a beating on Wednesday after the company reported a miss on both the top and bottom line in its Q2 report late Tuesday. While the company cited Hurricane Harvey as one reason for the bad results, Neil Saunders of GlobalData wasn't buying it. General Mills shares also sank into the red after reporting first-quarter results that dragged behind Wall Street's expectations.

RDI Initiates Coverage on:

Bed Bath & Beyond Inc.
https://rdinvesting.com/news/?ticker=BBBY

General Mills, Inc.
https://rdinvesting.com/news/?ticker=GIS

Bed Bath & Beyond Inc.'s shares sank into the red on Wednesday, closing down 15.87%. The stock even hit a new low of $22.41 during intra-day trading after the troubled retailer announced disappointing quarterly results late Tuesday and receiving several bad remarks from analysts. For the second quarter, Bed Bath & Beyond reported revenue of $2.94 billion. This was a miss as the average analyst estimate called for $70 million more than that. EPS at $0.67 was also a miss compared to the $0.95 that Wall Street had been expecting. UBS analysts wrote in a note, "Bed Bath & Beyond is facing significant top-line pressure lately due to its share losses to players such as Wayfair and HomeGoods." The firm cut its price target on the stock from $30 to $24. Suntrust Robinson Humphrey wrote, "Other home retailers aren't doing as poorly." GlobalData Retail managing director Neil Saunders wrote, "Although Bed Bath & Beyond has made passing reference to Hurricane Harvey as one of the reasons for this quarter's weak results, we are not entirely convinced by this explanation."

Access RDI's Bed Bath & Beyond Inc. Research Report at:
https://rdinvesting.com/news/?ticker=BBBY

General Mills, Inc.'s shares closed down 5.80% yesterday on a little over 16 million shares. The loss came after the company reported disappointing first-quarter results that did not impress the Street. The Minnesota-based company reported net income of 69 cents per share. After being adjusted for one-time gains and costs, EPS came out to 71 cents per share. This was below the 77 cents per share that analysts on average had been expecting. The Cheerios company's revenue was also a miss at $3.77 billion as the Street was expecting revenue of $3.79 billion. Since the start of the year, shares of General Mills have tumbled more than 10%.

Access RDI's General Mills, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=GIS

Our Actionable Research on Bed Bath & Beyond Inc. (NASDAQ: BBBY) and General Mills, Inc. (NYSE: GIS) can be downloaded free of charge at Research Driven Investing.

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