diff --git a/bin/sh/cd.c b/bin/sh/cd.c
index cec74968569a..2ac4b101dd25 100644
--- a/bin/sh/cd.c
+++ b/bin/sh/cd.c
@@ -219,10 +219,13 @@ cdphysical(char *dest)
 	char *p;
 
 	INTOFF;
-	if (chdir(dest) < 0 || (p = findcwd(NULL)) == NULL) {
+	if (chdir(dest) < 0) {
 		INTON;
 		return (-1);
 	}
+	p = findcwd(NULL);
+	if (p == NULL)
+		out2fmt_flush("cd: warning: failed to get name of current directory\n");
 	updatepwd(p);
 	INTON;
 	return (0);
@@ -304,7 +307,7 @@ updatepwd(char *dir)
 	if (prevdir)
 		ckfree(prevdir);
 	prevdir = curdir;
-	curdir = savestr(dir);
+	curdir = dir ? savestr(dir) : NULL;
 	setvar("PWD", curdir, VEXPORT);
 	setvar("OLDPWD", prevdir, VEXPORT);
 }