For the full year, BB&B posted EPS of $4.56 on revenues of $10.92 billion compared with consensus estimates for EPS of $4.57 and revenues of $10.94 billion.
Same-store sales for the quarter rose 2.5%, compared with a rise of 6.5% in the fourth quarter a year ago. Full-year same-store sales rose 2.7% compared with a rise of 5.9% a year ago.
For the first quarter, the company guides earnings in the range of $0.88 to $0.94. For the full fiscal year, BB&B says net earnings will rise by “a mid single to a low double digit percentage.” The consensus estimates called for first quarter EPS of $0.95 and full-year EPS of $5.03.
The company completed two acquisitions in June and does not include those stores in computations of same-store sales. The outlook for the 2013 fiscal year includes earnings from the acquisitions.
It will be interesting to see if BB&B can demonstrate some consistent organic growth now that both Linen Holdings and World Market have been added to the fold. The company’s own first quarter estimate is not a hopeful sign.
Shares are up 1.5%in after-hours trading today, at $66.60, in a 52-week range of $54.33 to $75.84. Thomson Reuters had a consensus analyst price target of around $69.90 before today’s results were announced.
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