Business Services Industry
Bombay Co. Stock Falls after Reporting Slow Start to Holidays.
Knight Ridder/Tribune Business News, November, 2003
By Heather Landy, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Nov. 21--FORT WORTH, Texas--Bombay Co. shares fell more than 17 percent Thursday after the furnishings retailer reported a slow start to the holiday shopping season and issued quarterly earnings estimates below analysts' forecasts.
The stock dropped $2.13 to $10.05, the lowest closing price in seven weeks for the Fort Worth-based chain.
Bombay will step up promotions after sales in the first half of November trailed expectations. While special offers and discounts can draw customers, they can also eat away at profits. Bombay projected fiscal fourth-quarter earnings of 34 cents to 41 cents a share. The average estimate of analysts polled by Zacks...
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