Bed Bath & Beyond Inc. (NASDAQ: BBBY) is tonight’s top after-hours mover on volume after the household goods retailer reported a blowout on its fourth-quarter earnings. This company just manages to keep on going and going.
The company showed solid gains as its net income rose to $283 million, or $1.12 EPS, versus $226 million, or $0.86 EPS, a year ago. Thomson Reuters had estimates of $0.97 EPS for the quarter. Revenues grew more than 11% and hit right at $2.5 billion versus $2.24 billion a year ago. That compares with Thomson Reuters estimates of $2.39 billion.
The good times are expected to keep rolling if its guidance is to be believed. Bed Bath & Beyond sees next quarter at $0.58 to $0.61 EPS versus $0.60 estimates from Thomson Reuters. For the year it called for overall growth of 10% to 15%, translating to about $3.41 to $3.58 EPS against Thomson Reuters estimates of $3.33 EPS.
This is what happens when your quarterly same-store sales rise about 8.5%. Bed Bath & Beyond ended with more than $1.18 billion in cash and over $605 million in short-term investments with another $121 million in long-term securities. During the last quarter, the company bought back about $199 million of its common stock, which comes to about 4.1 million shares.
This stock closed up 1% at $49.39 versus a 52-week trading range of $26.50 to $50.95. Shares are up 9% to a year high of $53.85 in the after-hours session. If the after-hours level holds, go ahead and count this all-time highs rather than just 52-week highs.
JON C. OGG
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