US stocks closed higher on Tuesday but after the bell, shares in Bed Bath & Beyond Inc (NASDAQ:BBBY) took a bath as the firm reported sales that fell more than expected and offered a weak forward guidance.
Shares in the domestic merchandise group literally tanked 14.5% to US$23.10 in after-hours trade.
The retailer reported a same-store sales decrease of 2.6% after analysts had expected a decrease of 0.7%.
The statement reflected the estimated negative impact Hurricane Harvey and the June 27 cyber attack affecting TNT Express.
“The first quarter posed significant operational challenges due to the TNT Express cyber-attack and Hurricane Harvey, and I want to thank our team members for their extraordinary dedication and performance,” said Frederick W. Smith, the firm's chairman and chief executive.
In tech, Adobe Systems Inc's (NASDAQ:ADBE) stock slipped 2.88% to US$152.09 in the extended session after the software company's results topped Wall Street estimates for the quarter.
Elsewhere, shares in medical device specialist Boston Scientific Corp (NYSE:BSX) reportedly added over 4% after hours after it announced positive late-breaking clinical trial data for a heart failure diagnostic.
The shares close on Wall Street on Tuesday 1.03% lower at $28.69 each.
#FedEx Corp. Reports First Quarter Earnings; By Cyberattack Lower Results ; Lower Earnings!— Financial Journal (@FinanJournal) 20 September 2017