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wyo
2021-09-30
Hmm
Chamath Palihapitiya Exits Tesla Stock. Here’s Why.
wyo
2021-09-30
[微笑]
Bed Bath & Beyond stock plunged 13.4% in premarket trading
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Here’s Why.","url":"https://stock-news.laohu8.com/highlight/detail?id=1130437913","media":"Barrons","summary":"High-profile investor Chamath Palihapitiya said Wednesday that he sold his position in Tesla stock o","content":"<p>High-profile investor Chamath Palihapitiya said Wednesday that he sold his position in Tesla stock over the last year.</p>\n<p>The founder of venture firm Social Capital has been bullish on Tesla (ticker: TSLA) in the past, telling CNBC in January—when the shares were trading hands above $800—that the stock could double or triple in price.</p>\n<p></p>\n<p>But the former Facebook executive, and special-purpose acquisition company (SPAC) investor who helped launch Virgin Galactic‘s (SPCE) listing, said he cashed out of Tesla to fund other projects “in the last year or so.”</p>\n<p>Speaking at a CNBC conference Wednesday, Palihapitiya said he no longer had a sizable stock position in Tesla, having sold down his stake while the stock was on a tear.</p>\n<p>“The price has allowed me to,” Palihapitiya said. “I don’t have an infinite pool of capital.”</p>\n<p>“When I have these ideas, the money has to come from someplace,” the investor said, speaking of a new venture linked to distributed energy utilities.</p>\n<p>Tesla stock rose nearly 700% in 2020, from less than $90 a share, to more than $700. It traded near $900 in early 2021, and today hovers around $780, having risen 7% year-to-date, lagging the S&P 500’s 16% and the Dow Jones Industrial Average’s 12%.</p>\n<p>Palihapitiya isn’t the only Tesla booster who has been selling shares of the company. ARK Invest’s Cathie Wood sold more than $200 million of Tesla stock recently. Unlike Palihapitiya, it remains the largest holding in her ARK Innovation ETF (ARKK).</p>\n<p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chamath Palihapitiya Exits Tesla Stock. Here’s Why.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChamath Palihapitiya Exits Tesla Stock. Here’s Why.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-30 19:32 GMT+8 <a href=https://www.barrons.com/articles/tesla-stock-sold-chamath-palihapitiya-51632997123?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>High-profile investor Chamath Palihapitiya said Wednesday that he sold his position in Tesla stock over the last year.\nThe founder of venture firm Social Capital has been bullish on Tesla (ticker: ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-sold-chamath-palihapitiya-51632997123?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-sold-chamath-palihapitiya-51632997123?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130437913","content_text":"High-profile investor Chamath Palihapitiya said Wednesday that he sold his position in Tesla stock over the last year.\nThe founder of venture firm Social Capital has been bullish on Tesla (ticker: TSLA) in the past, telling CNBC in January—when the shares were trading hands above $800—that the stock could double or triple in price.\n\nBut the former Facebook executive, and special-purpose acquisition company (SPAC) investor who helped launch Virgin Galactic‘s (SPCE) listing, said he cashed out of Tesla to fund other projects “in the last year or so.”\nSpeaking at a CNBC conference Wednesday, Palihapitiya said he no longer had a sizable stock position in Tesla, having sold down his stake while the stock was on a tear.\n“The price has allowed me to,” Palihapitiya said. “I don’t have an infinite pool of capital.”\n“When I have these ideas, the money has to come from someplace,” the investor said, speaking of a new venture linked to distributed energy utilities.\nTesla stock rose nearly 700% in 2020, from less than $90 a share, to more than $700. It traded near $900 in early 2021, and today hovers around $780, having risen 7% year-to-date, lagging the S&P 500’s 16% and the Dow Jones Industrial Average’s 12%.\nPalihapitiya isn’t the only Tesla booster who has been selling shares of the company. ARK Invest’s Cathie Wood sold more than $200 million of Tesla stock recently. Unlike Palihapitiya, it remains the largest holding in her ARK Innovation ETF (ARKK).","news_type":1},"isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865491635,"gmtCreate":1633009191568,"gmtModify":1633009694182,"author":{"id":"4087305051069070","authorId":"4087305051069070","name":"wyo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[微笑] ","listText":"[微笑] ","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/865491635","repostId":"1185816399","repostType":4,"repost":{"id":"1185816399","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1633002448,"share":"https://www.laohu8.com/m/news/1185816399?lang=&edition=full","pubTime":"2021-09-30 19:47","market":"us","language":"en","title":"Bed Bath & Beyond stock plunged 13.4% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1185816399","media":"Tiger Newspress","summary":"Bed Bath & Beyond stock plunged 13.4% in premarket trading after profit and sales miss, weak guidanc","content":"<p>Bed Bath & Beyond stock plunged 13.4% in premarket trading after profit and sales miss, weak guidance.</p>\n<p><img src=\"https://static.tigerbbs.com/00ea5147a2b56519c91eaaf1272dfc80\" tg-width=\"847\" tg-height=\"620\" referrerpolicy=\"no-referrer\"></p>\n<p>Bed Bath & Beyond Inc. today reported financial results for the second quarter of fiscal 2021 ended August 28, 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/df0342936dc10bc5e3df9c676baf38be\" tg-width=\"1038\" tg-height=\"377\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Q2 Highlights</b></p>\n<ul>\n <li>Comparable Sales decline of (1)% versus Q2 2020 primarily driven by slower than expected traffic trends in August across stores and digital</li>\n</ul>\n<ul>\n <li>Bed Bath & Beyond banner Comparable Sales decline of (4)%; buybuy BABY banner growth of high-teens percentage</li>\n</ul>\n<ul>\n <li>Core Sales decline of (11)%, primarily due to the impact of fleet optimization</li>\n</ul>\n<ul>\n <li>Gross Margin of 30.3% and Adjusted2 Gross Margin of 34.0%</li>\n</ul>\n<ul>\n <li>Adjusted Gross Margin reflects 170 bps of higher merchandise margin versus last year, that was more than offset by freight cost increases of 360 bps and which were greater than anticipated, particularly at the end of the quarter</li>\n</ul>\n<ul>\n <li>SG&A expense in-line with expectations</li>\n</ul>\n<ul>\n <li>Adjusted EBITDA of $85 million as a result of Net Sales and Adjusted2 Gross Margin performance</li>\n</ul>\n<ul>\n <li>Guidance outlook for 2021 third quarter established</li>\n</ul>\n<ul>\n <li>Revised full fiscal year 2021 guidance outlook to reflect year-to-date performance</li>\n</ul>\n<p>Mark Tritton, Bed Bath & Beyond’s President and CEO said, “While our results this quarter were below expectations, we remain confident in our multi-year transformation. Following solid growth in June, we saw unexpected, external disruptive forces towards the end of the quarter that impacted our outcome. In August, the final and largest month of our second fiscal period, traffic slowed significantly and, therefore, sales did not materialize as we had anticipated. As COVID-19 fears re-emerged amid the on-going Delta variant, we experienced a challenging environment. This was particularly evident in large, key states such as Florida, Texas and California, which represent a substantial portion of our sales. Furthermore, unprecedented supply chain challenges have been impacting the industry pervasively, and we saw steeper cost inflation escalating by month, especially later in the quarter, beyond the significant increases that we had already anticipated. This outpaced our plans to offset these headwinds. These factors impacted sales and gross margin.\"</p>\n<p>Tritton added, \"Encouragingly, we've continued to make progress against the fundamentals of our three-year transformation strategy. Our buybuy BABY banner continued to build on its positive momentum from the past several quarters, growing double digits due to strength in apparel and travel gear and increasing market share for the period. We also celebrated the July re-opening of our Bed Bath & Beyond banner's NYC flagship store in Chelsea as part of our comprehensive store remodel program, which is exceeding our expectations. Our higher margin Owned Brands are outperforming our penetration goals across the overall chain, and even stronger in remodeled stores. As a group, we continued to leverage our enhanced digital channel, with significant growth above 2019 at nearly double the proportion of sales. Operationally, we entered the next phase of our supply chain modernization through our partnership with Ryder which is instrumental to our strategy. We are committed to executing over the short, mid and long term, especially during these early stages of our multi-year plan.\"</p>\n<p>\"Our financial foundation is strong. We generated positive operating cash flow during the quarter. Our cash balance, coupled with our recently amended asset-based revolving credit facility, provides us on-going capital and liquidity strength of $2.0 billion. We are well positioned to continue our planned investments in our business and pave the way towards a more profitable future. We have the plan, the team and the resources to unlock our potential.\"</p>\n<p><b>Fiscal 2021 Third Quarter Outlook</b></p>\n<p>The Company expects fiscal 2021 third quarter Net Sales of between $1.96 billion to $2.0 billion, which only reflects sales from the Company's Core businesses. Net Sales also includes planned sales reductions from divestitures and the Company's store fleet optimization program. On a Comparable Sales basis, the Company expects to be approximately flat compared to the prior year period.</p>\n<p>The Company expects to achieve Adjusted Gross Margin in the range of 34% to 35%. This guidance reflects the impact of anticipated greater global supply chain challenges</p>\n<p>The Company expects Adjusted EBITDA between $80 million to $85 million and Adjusted2 EPS in the range of $0.00 to $0.05 per diluted share for the fiscal 2021 third quarter.</p>\n<p><b>Fiscal Year 2021 Outlook</b></p>\n<p>Based on its year-to-date performance in the fiscal first half of the year, as well as current expectations for the fiscal third quarter, the Company is revising its fiscal year 2021 guidance outlook.</p>\n<p>The Company now expects higher fiscal year 2021 Net Sales of $8.1 billion to $8.3 billion. The Company expects comparable sales of flat to up slightly for the second through fourth quarters of fiscal 2021.</p>\n<p>Adjusted Gross Margin is now anticipated to be in a range of 34.0% to 35.0% and Adjusted SG&A is expected to be approximately 32%.</p>\n<p>The Company now expects Adjusted EBITDA to be in the range of $425 million to $465 million and Adjusted EPS range of $0.70 to $1.10 per diluted share.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bed Bath & Beyond stock plunged 13.4% in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBed Bath & Beyond stock plunged 13.4% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-30 19:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Bed Bath & Beyond stock plunged 13.4% in premarket trading after profit and sales miss, weak guidance.</p>\n<p><img src=\"https://static.tigerbbs.com/00ea5147a2b56519c91eaaf1272dfc80\" tg-width=\"847\" tg-height=\"620\" referrerpolicy=\"no-referrer\"></p>\n<p>Bed Bath & Beyond Inc. today reported financial results for the second quarter of fiscal 2021 ended August 28, 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/df0342936dc10bc5e3df9c676baf38be\" tg-width=\"1038\" tg-height=\"377\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Q2 Highlights</b></p>\n<ul>\n <li>Comparable Sales decline of (1)% versus Q2 2020 primarily driven by slower than expected traffic trends in August across stores and digital</li>\n</ul>\n<ul>\n <li>Bed Bath & Beyond banner Comparable Sales decline of (4)%; buybuy BABY banner growth of high-teens percentage</li>\n</ul>\n<ul>\n <li>Core Sales decline of (11)%, primarily due to the impact of fleet optimization</li>\n</ul>\n<ul>\n <li>Gross Margin of 30.3% and Adjusted2 Gross Margin of 34.0%</li>\n</ul>\n<ul>\n <li>Adjusted Gross Margin reflects 170 bps of higher merchandise margin versus last year, that was more than offset by freight cost increases of 360 bps and which were greater than anticipated, particularly at the end of the quarter</li>\n</ul>\n<ul>\n <li>SG&A expense in-line with expectations</li>\n</ul>\n<ul>\n <li>Adjusted EBITDA of $85 million as a result of Net Sales and Adjusted2 Gross Margin performance</li>\n</ul>\n<ul>\n <li>Guidance outlook for 2021 third quarter established</li>\n</ul>\n<ul>\n <li>Revised full fiscal year 2021 guidance outlook to reflect year-to-date performance</li>\n</ul>\n<p>Mark Tritton, Bed Bath & Beyond’s President and CEO said, “While our results this quarter were below expectations, we remain confident in our multi-year transformation. Following solid growth in June, we saw unexpected, external disruptive forces towards the end of the quarter that impacted our outcome. In August, the final and largest month of our second fiscal period, traffic slowed significantly and, therefore, sales did not materialize as we had anticipated. As COVID-19 fears re-emerged amid the on-going Delta variant, we experienced a challenging environment. This was particularly evident in large, key states such as Florida, Texas and California, which represent a substantial portion of our sales. Furthermore, unprecedented supply chain challenges have been impacting the industry pervasively, and we saw steeper cost inflation escalating by month, especially later in the quarter, beyond the significant increases that we had already anticipated. This outpaced our plans to offset these headwinds. These factors impacted sales and gross margin.\"</p>\n<p>Tritton added, \"Encouragingly, we've continued to make progress against the fundamentals of our three-year transformation strategy. Our buybuy BABY banner continued to build on its positive momentum from the past several quarters, growing double digits due to strength in apparel and travel gear and increasing market share for the period. We also celebrated the July re-opening of our Bed Bath & Beyond banner's NYC flagship store in Chelsea as part of our comprehensive store remodel program, which is exceeding our expectations. Our higher margin Owned Brands are outperforming our penetration goals across the overall chain, and even stronger in remodeled stores. As a group, we continued to leverage our enhanced digital channel, with significant growth above 2019 at nearly double the proportion of sales. Operationally, we entered the next phase of our supply chain modernization through our partnership with Ryder which is instrumental to our strategy. We are committed to executing over the short, mid and long term, especially during these early stages of our multi-year plan.\"</p>\n<p>\"Our financial foundation is strong. We generated positive operating cash flow during the quarter. Our cash balance, coupled with our recently amended asset-based revolving credit facility, provides us on-going capital and liquidity strength of $2.0 billion. We are well positioned to continue our planned investments in our business and pave the way towards a more profitable future. We have the plan, the team and the resources to unlock our potential.\"</p>\n<p><b>Fiscal 2021 Third Quarter Outlook</b></p>\n<p>The Company expects fiscal 2021 third quarter Net Sales of between $1.96 billion to $2.0 billion, which only reflects sales from the Company's Core businesses. Net Sales also includes planned sales reductions from divestitures and the Company's store fleet optimization program. On a Comparable Sales basis, the Company expects to be approximately flat compared to the prior year period.</p>\n<p>The Company expects to achieve Adjusted Gross Margin in the range of 34% to 35%. This guidance reflects the impact of anticipated greater global supply chain challenges</p>\n<p>The Company expects Adjusted EBITDA between $80 million to $85 million and Adjusted2 EPS in the range of $0.00 to $0.05 per diluted share for the fiscal 2021 third quarter.</p>\n<p><b>Fiscal Year 2021 Outlook</b></p>\n<p>Based on its year-to-date performance in the fiscal first half of the year, as well as current expectations for the fiscal third quarter, the Company is revising its fiscal year 2021 guidance outlook.</p>\n<p>The Company now expects higher fiscal year 2021 Net Sales of $8.1 billion to $8.3 billion. The Company expects comparable sales of flat to up slightly for the second through fourth quarters of fiscal 2021.</p>\n<p>Adjusted Gross Margin is now anticipated to be in a range of 34.0% to 35.0% and Adjusted SG&A is expected to be approximately 32%.</p>\n<p>The Company now expects Adjusted EBITDA to be in the range of $425 million to $465 million and Adjusted EPS range of $0.70 to $1.10 per diluted share.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BBBY":"3B家居"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185816399","content_text":"Bed Bath & Beyond stock plunged 13.4% in premarket trading after profit and sales miss, weak guidance.\n\nBed Bath & Beyond Inc. today reported financial results for the second quarter of fiscal 2021 ended August 28, 2021.\n\nQ2 Highlights\n\nComparable Sales decline of (1)% versus Q2 2020 primarily driven by slower than expected traffic trends in August across stores and digital\n\n\nBed Bath & Beyond banner Comparable Sales decline of (4)%; buybuy BABY banner growth of high-teens percentage\n\n\nCore Sales decline of (11)%, primarily due to the impact of fleet optimization\n\n\nGross Margin of 30.3% and Adjusted2 Gross Margin of 34.0%\n\n\nAdjusted Gross Margin reflects 170 bps of higher merchandise margin versus last year, that was more than offset by freight cost increases of 360 bps and which were greater than anticipated, particularly at the end of the quarter\n\n\nSG&A expense in-line with expectations\n\n\nAdjusted EBITDA of $85 million as a result of Net Sales and Adjusted2 Gross Margin performance\n\n\nGuidance outlook for 2021 third quarter established\n\n\nRevised full fiscal year 2021 guidance outlook to reflect year-to-date performance\n\nMark Tritton, Bed Bath & Beyond’s President and CEO said, “While our results this quarter were below expectations, we remain confident in our multi-year transformation. Following solid growth in June, we saw unexpected, external disruptive forces towards the end of the quarter that impacted our outcome. In August, the final and largest month of our second fiscal period, traffic slowed significantly and, therefore, sales did not materialize as we had anticipated. As COVID-19 fears re-emerged amid the on-going Delta variant, we experienced a challenging environment. This was particularly evident in large, key states such as Florida, Texas and California, which represent a substantial portion of our sales. Furthermore, unprecedented supply chain challenges have been impacting the industry pervasively, and we saw steeper cost inflation escalating by month, especially later in the quarter, beyond the significant increases that we had already anticipated. This outpaced our plans to offset these headwinds. These factors impacted sales and gross margin.\"\nTritton added, \"Encouragingly, we've continued to make progress against the fundamentals of our three-year transformation strategy. Our buybuy BABY banner continued to build on its positive momentum from the past several quarters, growing double digits due to strength in apparel and travel gear and increasing market share for the period. We also celebrated the July re-opening of our Bed Bath & Beyond banner's NYC flagship store in Chelsea as part of our comprehensive store remodel program, which is exceeding our expectations. Our higher margin Owned Brands are outperforming our penetration goals across the overall chain, and even stronger in remodeled stores. As a group, we continued to leverage our enhanced digital channel, with significant growth above 2019 at nearly double the proportion of sales. Operationally, we entered the next phase of our supply chain modernization through our partnership with Ryder which is instrumental to our strategy. We are committed to executing over the short, mid and long term, especially during these early stages of our multi-year plan.\"\n\"Our financial foundation is strong. We generated positive operating cash flow during the quarter. Our cash balance, coupled with our recently amended asset-based revolving credit facility, provides us on-going capital and liquidity strength of $2.0 billion. We are well positioned to continue our planned investments in our business and pave the way towards a more profitable future. We have the plan, the team and the resources to unlock our potential.\"\nFiscal 2021 Third Quarter Outlook\nThe Company expects fiscal 2021 third quarter Net Sales of between $1.96 billion to $2.0 billion, which only reflects sales from the Company's Core businesses. Net Sales also includes planned sales reductions from divestitures and the Company's store fleet optimization program. On a Comparable Sales basis, the Company expects to be approximately flat compared to the prior year period.\nThe Company expects to achieve Adjusted Gross Margin in the range of 34% to 35%. This guidance reflects the impact of anticipated greater global supply chain challenges\nThe Company expects Adjusted EBITDA between $80 million to $85 million and Adjusted2 EPS in the range of $0.00 to $0.05 per diluted share for the fiscal 2021 third quarter.\nFiscal Year 2021 Outlook\nBased on its year-to-date performance in the fiscal first half of the year, as well as current expectations for the fiscal third quarter, the Company is revising its fiscal year 2021 guidance outlook.\nThe Company now expects higher fiscal year 2021 Net Sales of $8.1 billion to $8.3 billion. The Company expects comparable sales of flat to up slightly for the second through fourth quarters of fiscal 2021.\nAdjusted Gross Margin is now anticipated to be in a range of 34.0% to 35.0% and Adjusted SG&A is expected to be approximately 32%.\nThe Company now expects Adjusted EBITDA to be in the range of $425 million to $465 million and Adjusted EPS range of $0.70 to $1.10 per diluted share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":393,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":865491635,"gmtCreate":1633009191568,"gmtModify":1633009694182,"author":{"id":"4087305051069070","authorId":"4087305051069070","name":"wyo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[微笑] ","listText":"[微笑] ","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/865491635","repostId":"1185816399","repostType":4,"isVote":1,"tweetType":1,"viewCount":393,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865498646,"gmtCreate":1633009213283,"gmtModify":1633009714334,"author":{"id":"4087305051069070","authorId":"4087305051069070","name":"wyo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865498646","repostId":"1130437913","repostType":4,"isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}
