Bed Bath & Beyond Q2 Results Top Estimates

(RTTNews) - Bed Bath & Beyond Inc. (BBBY) reported net income for the second quarter of $224.0 million or $1.17 per share, compared to $249.3 million or $1.16 per share for the year-ago quarter.

Net sales for the second quarter rose 4.3% to $2.95 billion from $2.82 billion in the same quarter last year. Same-store sales in the second quarter increased about 3.4%.

Analysts polled by Thomson Reuters expected the company to earn $1.14 per share on revenue of $2.89 billion for the second quarter.

The company said it is modeling earnings to be $1.17 to $1.21 for the third quarter, $1.78 to $1.83 for the fourth quarter and $5.00 to $5.08 for the full fiscal year 2014. Previously, the company expected full year fiscal 2014 earnings per share to increase by a mid-single digit percentage.

Analysts currently expect the company to earn $1.20 per share for the third quarter and $5.03 per share for the full fiscal year 2014.