The upcoming anticipated passage of a congressional tax bill may be why shares for Bed Bath & Beyond Inc. (NASDAQ:BBBY) went up 8.6%.
If this bill is passed, the Federal corporate tax rate will be reduced to 20%, which will cause retailers like Bed Bath & Beyond to continue seeing increases in their earnings per share, as much as 23% it has been predicted.
Despite the increase Bed Bath & Beyond saw, its shares, in general, are still down more than 40% for 2017 (there was a 30% plunge between September and October, resulting from weak comparable-store sales).
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