Bed Bath & Beyond Inc Profit Drops 23% In Q1

(RTTNews) - Bed Bath & Beyond Inc (BBBY) revealed earnings for first quarter that decreased compared to the same period last year.

The company said its earnings fell to $122.62 million, or $0.80 per share. This was lower than $158.45 million, or $0.93 per share, in last year's first quarter.

Analysts had expected the company to earn $0.86 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue came in at $2.74 billion, equal to the mark posted in the same period last year.

Bed Bath & Beyond Inc earnings at a glance:

-Earnings (Q1): $122.62 Mln. vs. $158.45 Mln. last year. -Earnings Decline (Y-o-Y): -22.6% -EPS (Q1): $0.80 vs. $0.93 last year. -EPS Decline (Y-o-Y): -14.0% -Analysts Estimate: $0.86 -Revenue (Q1): $2.74 Bln vs. $2.74 Bln last year. -Revenue Change (Y-o-Y): 0%

-Guidance: Full year EPS guidance: $4.50 - $5.00