Jefferies Cuts Price Target on Bed Bath & Beyond (BBBY) Following 1Q Report
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Bed Bath & Beyond Inc. Reports Results For Fiscal 2016 First Quarter
June 22, 2016 4:15 PM EDTUNION, N.J., June 22, 2016 /PRNewswire/ --Â Bed Bath & Beyond Inc. (NASDAQ: BBBY) today reported financial results for the first quarter of fiscal 2016 ended May 28, 2016.
First Quarter Results
For the first quarter of fiscal 2016, the Company reported net earnings of $.80 per diluted share ($122.6 million) compared with $.93 per diluted share ($158.5 million) for the first quarter of fiscal 2015.  Net sales for the first quarters of fiscal 2016 and 2015 were approximately $2.738 billion. Comparable sales in the first quarter of fiscal 2016 decreased by approximately 0.5%, compared with an increase of approximately 2.2% in the prior year period. ... More
