seems to never fail , BBBY always finds a reason to pull back after earns to $38/39 level from mid $40's...
(never fails to pop either , hehe)
BBBY weakness attributed to 10-Q, JP Morgan concerns (39.77 -1.39)
Weakness in stock is being blamed on apparent concerns by JP Morgan about sales contribution from the acquisition of Christmas Tree Shops. Apparently, firm expressing these concerns after co's 10-Q indicated that C.T.S. was responsible for 49% of the $239 mln sales increase. Firm apparently says factoring out the 6.4% comp., this implies 6.6% non-comp growth on 11.3% square footage growth, or 58% new store productivity vs. their 64% in Q2... Briefing.com has not seen the actual note.
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