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Last Update: 22-Dec-11 09:52 ET
Bed Bath & Beyond Down 5% On Earnings/Guidance Results
Bed Bath & Beyond (BBBY $58.27 -3.16) is trading notably lower following its earnings/guidance results that were released late yesterday.
After the close yesterday, the company reported third quarter earnings of $0.95 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.89.
Revenues rose 6.8% year/year to $2.34 bln vs the $2.36 bln consensus. Comparable store sales in the fiscal third quarter of 2011 increased by approximately 4.1%, compared with an increase of approximately 7.0% in last year's fiscal third quarter.
For its fiscal year 2012, the company raised its earnings guidance to $3.86 to $3.92 (versus $3.83 Capital IQ Consensus Estimate), up from prior range for growth of 22% to 25% (which calculated to approx $3.75 to $3.84).
After the close yesterday, the company reported third quarter earnings of $0.95 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.89.
Revenues rose 6.8% year/year to $2.34 bln vs the $2.36 bln consensus. Comparable store sales in the fiscal third quarter of 2011 increased by approximately 4.1%, compared with an increase of approximately 7.0% in last year's fiscal third quarter.
For its fiscal year 2012, the company raised its earnings guidance to $3.86 to $3.92 (versus $3.83 Capital IQ Consensus Estimate), up from prior range for growth of 22% to 25% (which calculated to approx $3.75 to $3.84).
