Bed Bath & Beyond Q4 Profit Meets Estimate; Sales Miss

(RTTNews) - Bed Bath & Beyond Inc. (BBBY) reported net earnings for the fourth quarter of $321.1 million or $1.80 per share, compared to $333.3 million or $1.60 per share for the year-ago quarter.

Net sales for the fourth quarter rose 4.2% to $3.34 billion from $3.20 billion a year earlier. Same-store sales for the fourth quarter increased by about 3.7%.

Analysts polled by Thomson Reuters expected the company to earn $1.80 per share on revenue of $3.37 billion for the fourth quarter.

Looking forward, the company said it is modeling a 2.0% to 3.0% increase for comparable sales for both the fiscal 2015 first quarter and full year, net earnings per share to be between $0.90 to $0.95 for the first quarter, and to be between relatively flat and a mid-single digit percentage increase for the fiscal full year.

Analysts currently expect the company to earn $1.01 per share for the first quarter.