Investors Focus on 24% Surge in Bed Bath & Beyond's (BBBY) Q4 Profit
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Price: $4.35 --0%
Financial Fact:
Operating profit: 280.97M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Operating profit: 280.97M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of Bed Bath & Beyond (Nasdaq: BBBY) are trading above the $70 level Wednesday afternoon following better-than-expected fourth-quarter results. The retailer also issued inline first-quarter and FY12 earnings guidance.
Sales for the three-month period ended February 25th, 2012 rose 9.1 percent from $2.5 billion during the same quarter last year to $2.73 billion. Analysts were expecting quarterly sales of $2.66 billion. Same-store sales rose 6.8 percent, slightly lower than the 8.5 percent increase reported in the fourth quarter of 2011.
Net earnings surged from $283.45 million in the year-ago quarter to $351.04 million, a nearly 24 percent increase. Earnings per share totaled $1.48, up 32 percent from the $1.12 reported last year. The Street was expecting EPS of $1.32.
Bed Bath & Beyond is expecting first quarter earnings of 79-83 cents per share, near the low end of the Street's current 82 cents per share estimate.
FY12 earnings will likely be up in the high single digit to low double digit percent range, the retailer said. Compared to earnings of $4.06 per share for the 12-month period ended February 25th, 2012, earnings should be around $4.34 to $4.59. Analysts are anticipating FY12 EPS of $4.47.
The stock is up more than 5 percent to $70.07 at last check.
Sales for the three-month period ended February 25th, 2012 rose 9.1 percent from $2.5 billion during the same quarter last year to $2.73 billion. Analysts were expecting quarterly sales of $2.66 billion. Same-store sales rose 6.8 percent, slightly lower than the 8.5 percent increase reported in the fourth quarter of 2011.
Net earnings surged from $283.45 million in the year-ago quarter to $351.04 million, a nearly 24 percent increase. Earnings per share totaled $1.48, up 32 percent from the $1.12 reported last year. The Street was expecting EPS of $1.32.
Bed Bath & Beyond is expecting first quarter earnings of 79-83 cents per share, near the low end of the Street's current 82 cents per share estimate.
FY12 earnings will likely be up in the high single digit to low double digit percent range, the retailer said. Compared to earnings of $4.06 per share for the 12-month period ended February 25th, 2012, earnings should be around $4.34 to $4.59. Analysts are anticipating FY12 EPS of $4.47.
The stock is up more than 5 percent to $70.07 at last check.
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