Bed Bath & Beyond Rises Aftermarket on 4Q Results
Bed Bath & Beyond Inc. said Wednesday its profit jumped 24 percent in the fiscal fourth quarter, driven by better-than-expected sales, and the retailer’s shares advanced in after-hours trading.
The company earned $351 million, or $1.48 per share, over the three months ended Feb. 25. A year earlier it reported a profit of $283.5 million, or $1.12 per share. Revenue grew 9 percent to $2.73 billion from $2.5 billion. The company’s diluted shares outstanding decreased by about 6 percent year over year because of share buybacks, benefiting earnings per share.