real-time news and commentary for investors
Wednesday, Sep 25
Bed Bath & Beyond +4.6% AH after strong earnings, sales gains
- Bed Bath & Beyond (BBBY) +4.6% AH after FQ2 earnings rose 11% on a 9% jump in sales, both increases at the upper end of company guidance.
- BBBY also raised the lower end of its full-year earnings estimate by $0.04/share, now seeing EPS of $4.88-$5.01; forecasts FQ3 EPS of $1.11-$1.16 vs. $1.12 analyst consensus and FQ4 outlook of $1.70-$1.77 EPS vs. $1.83 consensus.
- FQ2 comp store sales rose ~3.7% vs. a ~3.5% increase in the year-ago quarter.
- Gross margin narrowed to 39.4% from 39.8%.