(RTTNews) - Bed Bath & Beyond (BBBY) fell in pre-market trading, after cutting its third quarter guidance.
The stock was down $1.17 just after 8:20 am ET, dropping to $18.50. If pre-market losses hold, the stock will open near Tuesday's intraday low.
After the closing bell on Tuesday, Bed Bath & Beyond said company has lowered its third quarter earnings guidance to be in the range of $0.31 to $0.35 per share from its previous earnings forecast of $0.41 -$0.47 per share.
The company also expects sales growth to decline by about 0.7% from a year ago. Earlier, the company expected sales to grow 3% to 6% for the third quarter.
Analysts expect the company to earn $0.40 per share for the quarter on revenue of $1.84 billion.
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