Bed Bath & Beyond Q1 Results Miss Estimate; Sees Q2 EPS Below Consensus

(RTTNews) - Bed Bath & Beyond Inc. (BBBY) reported net income for the first quarter of $187.1 million or $0.93 per share, compared to $202.5 million or $0.93 per share for the year-ago quarter.

Net sales for the first quarter rose 1.7% to $2.66 billion from $2.61 billion in the same quarter last year. Same-store sales grew 0.4% in the first quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.94 per share on revenue of $2.69 billion for the first quarter.

The company said it is modeling earnings per share to be $1.08 to $1.16 for the second quarter and, consistent with the prior estimate, to increase by a mid-single digit percentage for all of fiscal 2014. Analysts currently expect the company to earn $1.20 per share for the second quarter.