Net income declined to $141.4 million, or 55 cents a share, in the three months ended February 28, from $172.9 million, or 66 cents, a year earlier, the Union, Bed Bath & Beyond said in a statement. Analysts had predicted the retailer would earn 44 cents a share.
Meanwhile, same-store sales fell 4.3 percent.
FULL YEAR RESULTS
For the full year, Bed Bath & Beyond earned $425.1 million, or $1.64 per share, down almost 25 percent from a year earlier. Sales rose 2.3 percent to $7.21 billion for the year, though same-store sales fell 2.4 percent.
Analysts expected the company to earn $1.53 per share for the year on revenue of $7.2 billion.
Bed Bath & Beyond forecast per-share profit of 23 cents or 24 cents for the first quarter and $1.50 for the year. Analysts estimate 23 cents and $1.51, respectively.
Meanwhile, same-store sales fell 4.3 percent.
FULL YEAR RESULTS
For the full year, Bed Bath & Beyond earned $425.1 million, or $1.64 per share, down almost 25 percent from a year earlier. Sales rose 2.3 percent to $7.21 billion for the year, though same-store sales fell 2.4 percent.
Analysts expected the company to earn $1.53 per share for the year on revenue of $7.2 billion.
Bed Bath & Beyond forecast per-share profit of 23 cents or 24 cents for the first quarter and $1.50 for the year. Analysts estimate 23 cents and $1.51, respectively.
