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Bloomberg
Bed Bath & Beyond Inc’s shares plunged after higher shipping and e-commerce costs eroded profitability in the fourth quarter, tarnishing the results as the home-furnishings retailer reported a stronger-than-expected same-store sales gain.
The increase in online sales and freight expenses led to higher costs for the company, contributing to a gross margin of 31.5%, which was below
the estimate compiled by Bloomberg. Those costs aren’t being passed on to consumers, CEO Mark Tritton said.