The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
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.