When a trio of activist funds launched a proxy fight at Bed Bath & Beyond late last month, the stock surged 22%. Investors clearly were delighted by the prospect of change at the struggling home-goods retailer. The optimism may have been premature, though. On Wednesday the company reported fiscal fourth-quarter results that offered a stark reminder of how far Bed Bath & Beyond has to go to show signs of real recovery. Earnings were $1.20 per share, which beat estimates of $1.12 per share, but this was largely driven...

Source: Wall Street Journal April 10, 2019 23:03 UTC