Updated at 8:06 am EST

Bed Bath & Beyond  (BBBY) – Get Bed Bath & Beyond Inc. Report shares plunged lower Wednesday after the struggling home retailed posted weaker-than-expected first quarter earnings and unveiled the resignation of CEO Mark Tritton.

Bed Bath & Beyond said it posted an adjusted loss for the three months ending on may 28, the group’s fiscal first quarter, of $4.49 per share on revenues of $1.46 billion and a 27% slump in comparable sales. 

Tritton, who has lead the group since November of 2019, will leave both his role as CEO and on the Bed Bath & Beyond board to make way for independent director Sue Gove, the company said, who will serve on an interim basis.

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