Why Bed Bath & Beyond Stock Cratered on Wednesday

The catalysts that sent the home goods retailer cratering were a first-quarter financial report that was far worse than investors anticipated and a shake-up among its top management. To give the top- and bottom-line numbers context, analysts' consensus estimates were calling for revenue of $1.5 billion and a loss per share of $1.39 -- so the company failed to clear an already low bar, sending investors flocking to the exits. There was other news that gave Bed Bath & Beyond investors pause, in the form of a C-suite shake-up.