Reuters: Global Markets: Bed Bath & Beyond fourth quarter beats estimates, shares up

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Bed Bath & Beyond fourth quarter beats estimates, shares up Apr 4th 2012, 21:43 Wed Apr 4, 2012 5:43pm EDT (Reuters) - Bed Bath & Beyond Inc (BBBY.O) reported quarterly results that beat Wall Street expectations as shoppers spent more to spruce up their homes, sending the retailer's shares up more than 4 percent after the bell. Fourth-quarter profit at the retailer, which sells everything from toasters to shower curtains, rose to $351.0 million, or $1.48 a share, from $283.5 million, or $1.12 a share, a year ago. Sales at the operator of the Bed Bath & Beyond, Christmas Tree Shops, Harmon and buybuy Baby chains rose 9.1 percent to $2.73 billion. Analysts, on average, were expecting a profit of $1.33 per share, on revenue of $2.66 billion, according to Thomson Reuters I/B/E/S. Fourth-quarter comparable-store sales rose 6.8 percent. For the current quarter, the retailer forecast a profit of 79 cents to 83 cents a share. Analysts are expecting a profit of 82 cents a share. The Union, New Jersey-based company said it expects full-year earnings to rise by high-single to low-double digit percentage levels. Bed Bath & Beyond shares were trading up at $69.38 in extended trade. They closed at $66.23 on Wednesday on the Nasdaq. (Reporting by Meenakshi Iyer in Bangalore; Editing by Roshni Menon) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions