The Container Store is cutting its guidance for the year after the company says expenses led it to report a loss in the third quarter.
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Strong dollar hits Bed Bath & Beyond
A drop in same-store sales led Bed Bath & Beyond to report a 21% decline in profit for the third quarter.
The retailer said same store sales in the third quarter ended Nov. 28 decreased by approximately 0.4%, compared with an increase of approximately 1.7% in last year's fiscal third quarter. Same-store sales from digital channels grew in excess of 25%.
Bed Bath & Beyond reported a profit of $177.8 million, or $1.09 a share, compared with $225.4 million, or $1.23 a share, a year earlier. Revenue rose 0.3% to $2.95 billion.
