Bed Bath & Beyond Posts Third Straight Quarter of Adjusted Profitability

Bed Bath & Beyond (NASDAQ: BBBY) continues to show signs that it is on the road back to health as it posted its third consecutive quarter of adjusted profits this morning, beating analyst expectations in its fourth quarter of 2020, though sales fell a little short of the mark. The home goods retailer also reported its third straight quarter of comparable-store sales growth, suggesting that management has finally gotten a grasp again on what consumers are looking for. Fourth-quarter revenue of $2.62 billion was down 16% year over year and fell short of analyst expectations of $2.63 billion.