Just when you thought home furnishings and knick knack sales were soft, Bed Bath & Beyond Inc. (NASDAQ: BBBY) came and saved the day. The company posted diluted earnings of $0.30 EPS on revenues of $1.648 Billion. First Call had estimates of $0.27 EPS on $1.62 Billion in revenues. While this is down from $0.38 EPS last year, revenues were up 6.1% and comparable store sales were up 0.8%.
This stock closed up 0.95% at $28.57 in regular trading today, but shares are up 8.5% at $28.57 in after-hours trading. The 52-week trading range is $24.49 to $37.61.
There has been a long-running joke that Bed Bath & Beyond customers never react adversely economic weakness. If they do, it obviously isn’t for long.
Jon C. Ogg
June 25, 2008
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