Bed Bath & Beyond (BBBY - Free Report) just released its latest quarterly results, posting earnings of 32 cents per share and revenues of $2.8 billion.
Currently, BBBY is a #3 (Hold) on the Zacks Rank, but that could change based on today’s results. Investors should note that our consensus estimate trend has recently decreased for the current fiscal year.
Shares of the company have risen 12% over the past month and were 0.70% during regular trading hours today.
However, the stock is currently down -6.14% to $18.95 per share in after-hours trading shortly after its earnings report was released.
Bed Bath & Beyond:
Beat earnings estimates. The company reported earnings of 32 cents per share, topping the Zacks Consensus Estimate of 31 cents per share. Net income was $43.6 million.
Matched revenue estimates. The company saw revenue figures of $2.8 billion, coming in line with our consensus estimate of $2.75 billion and growing 0.4% year-over-year.
Bed Bath & Beyond noted that comparable sales in Q1 decreased by 0.6% due to strong sales growth from digital channels and sales from stores that declined in the mid- single -digit percentage range.
The company remains on track for it’s with its three year financial goals that include achieving comparable sales, achieving moderating declines in operating profit and net earnings, and to achieve growth in net earnings.
Looking ahead Bed Bath & Beyond expects net earnings per diluted share for the full year to be in the low-to-mid $2.00 range.
Here’s a graph that looks at Bed Bath & Beyond's recent earnings performance:
Bed Bath & Beyond is a retailer offering a wide selection of domestics merchandise and home furnishings. The company also operates a large ecommerce platform consisting of various websites and applications. BBBY wants to be trusted by its customers as the expert for the home and heart-related life events. It is based on building and delivering a strong foundation of differentiated products, services and solutions.
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