Shares of Bed Bath & Beyond rose 4% on Wednesday after the home goods retailer reported earnings that beat Wall Street expectations and sales in line with analyst forecasts.
Bed Bath & Beyond’s net sales in the quarter rose 3.4% to $3.5 billion from $3.4 billion in the year-ago period. Net earnings of $1.84 per diluted share topped Thomson Reuters analyst expectations of $1.78 per share on quarterly sales of $3.51 billion. Same-store sales rose 0.4% in Q4, compared to the year-ago increase of 1.7%; same-store online sales rose more than 20% while same-store physical sales fell in the low single-digit percentage range, according to a press release.
