Advance Auto Parts Shares Drop After Earnings Report and Bed Bath & Beyond Shares Skyrocket After Announcing 3 New Brands 🛁

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Advance Auto Parts Shares Drop After Earnings Report and Bed Bath & Beyond Shares Skyrocket After Announcing 3 New Brands

Advance Auto Parts

On Wednesday, shares of Advance Auto Parts fell, closing down 1.71%.

Shares of the American automotive aftermarket parts provider fell after the company announced its first-quarter earnings report.

The company reported earnings of $2.81 per share or $185.93 million vs analysts’ expectations of $3.08 per share. The company’s revenue for the first quarter rose to $3.33 billion from $2.70 billion last year, beating analysts’ expectations of $3.31 billion in revenue.

Advance Auto Parts expects revenue for the entire year of $10.4 billion to $10.6 billion.

Shares of Advance Auto Parts have risen over 20% this year.

Bed Bath & Beyond   

On Wednesday, shares of Bed Bath & Beyond skyrocketed, closing up 62.11%.

Shares of the American retailer jumped higher after the company announced it would be launching three new house brands in the coming weeks and are aimed at younger shoppers. The three new brands are called Our Table, Wild Sage and Squared Away. The new brands also are being launched shortly before back-to-college shopping begins.

The company plans to roll out 10 new private brands overall in the next three years as part of the restructuring of its product offerings.

Shares of Bed Bath & Beyond have risen over 140% this year.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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