Bed Bath & Beyond warns on weak holiday

Bed Bath & Beyond (NASDAQ:BBBY) cut its third quarter profit forecast and warned investors that fourth quarter sales could come in below expectations.

"Our performance in the third quarter reflects the recent trends we have been experiencing," said CEO Steven Temares. "We experienced softer in-store transaction counts."

The company expects comparable store sales to increase 1 percent and total sales for the fiscal third quarter ended November 28, 2015 to grow by 0.3 percent to about $3.0 billion. It had expected sales to increase by about 1.8 to 4.0 percent.

Digital sales are a bright spot for the retailer as "customer-facing digital channels demonstrated strong growth, in excess of 25 percent," said Temares. However, online sales for the same period last year grew 40 percent.

For more:
-See this Bed Bath & Beyond statement

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