Stock Alert: Bed Bath & Beyond Jumps 30% On Improved Comp.

(RTTNews) - Shares of domestic merchandise retail stores chain Bed Bath & Beyond Inc. (BBBY) are rising more than 30% Thursday morning after reporting same-store sales growth in the second quarter, first time since 2016 fourth quarter.

The stock touched a new high of $19.89 this morning.

Comparable store sales in the second quarter increased about 6%, thanks to online sales growth of neartly 90%.

Net sales were approximately $2.7 billion, a decrease of about 1% compared to the prior year period. On average, 16 analysts polled by Thomson Reuters expected the company to report sales of $2.6 billion for the period.

The company reported adjusted earnings per share of $0.50 for the quarter compared with $0.34 last year. The consesnus estimate was for a loss of $0.23 per share.