Bed Bath & Beyond Profit Misses Estimates, Sales In Line

(RTTNews) - Home goods retailer Bed Bath & Beyond Inc (BBBY) on Wednesday reported first-quarter net earnings of $158.5 million compared with $187.1 million last year.

On a per share basis, earnings for the quarter were unchanged from a year ago at $0.93 due to a lower share count, the company said.

The company's revenues for the quarter were up 3.1% at $2.74 billion compared with $2.66 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.94 per share on revenues of $2.74 billion for the quarter. Analysts' estimates typically exclude special items.

Same store sales in the quarter were up about 2.2%, Bed Bath said.

For the second quarter, the company expects earnings of $1.18 to $1.23 per share and same store sales to increase 2% to 3%. Analysts expect earnings of $1.23 per share.

For the full year 2015, the company still expects earnings to be between relatively flat and a mid-single digit percentage increase, and same store sales to grow 2% to 3%.