Bed Bath & Beyond Q4 Profit Meets Estimate; Guides Q1 EPS Below Consensus

(RTTNews) - Bed Bath & Beyond Inc. (BBBY) reported net income for the fourth quarter of $333.3 million or $1.60 per share, compared to $373.9 million or $1.68 per share for the year-ago quarter.

Net sales for the fourth quarter fell 5.8% to $3.20 billion from $3.40 billion in the same quarter last year. Same-store sales for the fourth quarter increased 1.7%.

Analysts polled by Thomson Reuters expected the company to earn $1.60 per share on revenue of $3.22 billion for the fourth quarter.

The company said it is modeling net earnings per share to be about $0.92 to $0.96 for the fiscal first quarter of 2014, and to increase by a mid-single digit percentage for all of fiscal 2014.

Analysts currently expect the company to earn $1.02 per share for the first quarter.