Bed Bath & Beyond shares tanked more than 17% in premarket trading Thursday as the company said it saw a steep drop-off in traffic in August, dealing a blow to its fiscal second-quarter results.

Big-box retailers are also facing industry-wide supply chain problems, Chief Executive Mark Tritton stated that they have been “pervasive”.

Tritton also stated that inflation costs rose sharply in the summer months and especially towards the end August’s second quarter. He said that this affected sales and profit.

Here’s how Bed Bath & Beyond did in its second quarter ended Aug. 28 compared with what Wall Street was expecting, based on a Refinitiv survey of analysts:

• Earnings per share: 4 cents adjusted vs. 52 cents expected
• Revenue: $1.99 billion vs. $2.06 billion expected

Find the full press release from Bed Bath & Beyond here.

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