Beyond concerned

Bed Bath & Beyond slumped to an eight-year low after the home goods retailer reported a drastic slump in earnings and warned it may revise its annual guidance.

The company also said Thursday that while it enjoyed strong online sales growth, transactions at its stores continued to weaken in its fiscal first quarter.

Management said it needs to see whether the trends continue in the current quarter before it updates its full-year guidance. Bed Bath & Beyond’s net income fell to $75.3 million, or 53 cents per share, in the quarter ended May 27. That compared with net income of $122.6 million, or 80 cents per share, a year earlier. Revenue was essentially flat at $2.74 billion.

Analysts’ consensus forecast called for earnings of 66 cents per share on $2.79 billion in revenue, according to FactSet.

The stock slid 12.1 percent Friday.