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Bed Bath & Beyond to report on Wednesday

Bed Bath & Beyond will announce its first-quarter figures for 2014 on Wednesday. The consensus is for earnings per share of $0.94 and revenue of $2.69 billion.

Bed Bath & Beyond store
Source: Bloomberg

2014 has for not been a good year for Bed Bath & Beyond. The stock is trading at 6068 and is down 24% year to date. The results for the third and fourth quarter of 2013 were weak, and both announcements came with lowered guidance for the next quarter.

The particularly bad winter in North America was blamed in both quarters for the poor performance. We have seen some satiability in the shares price in recent weeks, with the stock trading within the 6000c-6200c range.

The wider US housing market and consumer sentiment is picking up, so the shares price could look to pull back lost ground. Since traders’ expectations have been guided lower twice, and now that winter is behind us, I think we could see some bargain hunting if the figures on Wednesday are good. The outlook will be the key factor here, but for now the 6790 region is the short-term target. 

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