Originally published at www.seclive.com
Filing in Focus: Bed Bath & Beyond 8-K, April 9, 2014
Bed Bath & Beyond Inc. (NASDAQ:BBBY) announced its financial results for the fourth quarter and full fiscal year 2014, reporting quarterly earnings that declined 11%. The home-furnishings retailer posted sales of $3.20B, a 5.8% decrease from a year ago, missing analyst expectations of $3.22B with same-store sales rising 1.7%, short of the predicted 2% to 4% range. The company's gross margin tightened slightly from 41% to 40.5% with selling, general, and administrative expenses decreasing 3.3%. Bed Bath & Beyond quarterly earnings were $333.3M and $1.60 per share, down from $373.9M and $1.68 per share in the year-ago quarter. For the fiscal year the company is expecting earnings growth in mid-single digit range, short of the 9.8% analyst-predicted increase to $5.27 per share.
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