Bed Bath & Beyond (BBBY) Q4 Comps Up 1.7%
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Price: $0.08 --0%
Financial Fact:
Net earnings per share - Diluted (in dollars per share): 1.11
Today's EPS Names:
FRSB, DGICA, UXIN, More
Financial Fact:
Net earnings per share - Diluted (in dollars per share): 1.11
Today's EPS Names:
FRSB, DGICA, UXIN, More
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Bed Bath & Beyond Inc. (Nasdaq: BBBY) today provided preliminary information on its fiscal fourth quarter, including the impact of adverse weather conditions during the period. The Company's fourth quarter comprises the fiscal months of December, January and February and ended on March 1, 2014. The impact of the disruptive weather included 464 times a store was closed for a full day and 1,923 times that a store was closed for a partial day. For the fiscal quarter, the estimated resulting impact due to the disruptive weather on comparable store sales was in the range of 2.0% to 2.5%. The estimated impact on net earnings per diluted share for the quarter was approximately $.06 to $.07.
The Company's comparable store sales for the fiscal fourth quarter increased by approximately 1.7% as compared with its previous model of an increase of approximately 2.0% to 4.0%. Although it is early in the process of its financial close, the Company now estimates net earnings per diluted share of approximately $1.57 to $1.61 for the quarter as compared with its previous model of $1.60 to $1.67.
(Street sees Q4 EPS of $1.65)
Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc. stated, "Despite the weather related challenges, we are pleased with our quarter. Absent the disruptive weather, we believe we would have been comfortably within our sales and net earnings per share ranges of our model. Our store associates continue to perform admirably and we thank each of them for their extraordinary effort. We continue to make excellent progress on our omnichannel initiatives and stay on course for the execution of our long term strategic plan."
The Company expects to report its actual results for the fiscal 2013 fourth quarter and full year after the close of trading on Wednesday, April 9, 2014, and will provide its major modeling assumptions for the fiscal 2014 first quarter and full year during its conference call scheduled for 5:00 PM (EDT) on that date. The Company does not undertake any obligation to update its forward-looking statements or make "pre-announcements" such as that contained in this press release.
The Company's comparable store sales for the fiscal fourth quarter increased by approximately 1.7% as compared with its previous model of an increase of approximately 2.0% to 4.0%. Although it is early in the process of its financial close, the Company now estimates net earnings per diluted share of approximately $1.57 to $1.61 for the quarter as compared with its previous model of $1.60 to $1.67.
(Street sees Q4 EPS of $1.65)
Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc. stated, "Despite the weather related challenges, we are pleased with our quarter. Absent the disruptive weather, we believe we would have been comfortably within our sales and net earnings per share ranges of our model. Our store associates continue to perform admirably and we thank each of them for their extraordinary effort. We continue to make excellent progress on our omnichannel initiatives and stay on course for the execution of our long term strategic plan."
The Company expects to report its actual results for the fiscal 2013 fourth quarter and full year after the close of trading on Wednesday, April 9, 2014, and will provide its major modeling assumptions for the fiscal 2014 first quarter and full year during its conference call scheduled for 5:00 PM (EDT) on that date. The Company does not undertake any obligation to update its forward-looking statements or make "pre-announcements" such as that contained in this press release.
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