EmailBed Bath & Beyond (BBBY $55.38 +1.32) reported first quarter earnings
of $0.72 per share, $0.10 better than the Capital IQ Consensus Estimate of
$0.62.
Revenues rose 9.7% year/year to $2.11 billion versus the $2.07 billion
consensus.
In the second quarter, the company sees earnings falling in the range of $0.77
to $0.82 versus the $0.82 Capital IQ Consensus Estimate.
Comparable store sales in the fiscal first quarter of 2011 increased by ~7.0%,
compared with an increase of ~8.4% in last year's fiscal first quarter. During
the fiscal first quarter of 2011, the Company repurchased ~$245 million of its
common stock representing ~4.8 million shares.
This included the completion of the $1 billion share repurchase program
authorized in 2007. As of May 28, 2011, the balance remaining of the share
repurchase program authorized in December 2010 was ~$1.892 billion dollars.
than one year.
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