Bed Bath & Beyond (BBBY) expects FQ2 EPS of $1.08-$1.16, below a $1.20 consensus. FY14 guidance for mid-single digit % EPS growth is being reiterated.
Comparable store sales rose just 0.4% Y/Y in FQ1 vs. 1.7% in FQ4 and 1.3% in FQ3.
Gross margin fell to 38.8% from 40.4% in FQ4 and 39.5% a year ago. SG&A spend rose 3% Y/Y to $730.2M.
$273M was spent to buy back 4.2M shares.
FQ1 results, PR