Bed Bath & Beyond Earnings Cheat Sheet: Profits Grow Double Digits For Fifth Straight Quarter

S&P 500 (NYSE:SPY) component Bed Bath & Beyond Inc. (NASDAQ:BBBY) reported net income above Wall Street’s expectations for the second quarter. Bed Bath & Beyond, Inc. is a chain of retail stores.

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

Bed Bath & Beyond Earnings Cheat Sheet for the Second Quarter

Results: Net income for the home furnishing store rose to $229.4 million (93 cents per share) vs. $181.8 million (70 cents per share) in the same quarter a year earlier. This marks a rise of 26.2% from the year earlier quarter.

Revenue: Rose 8.3% to $2.31 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: BBBY beat the mean analyst estimate of 84 cents per share.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 31.3% and in the fourth quarter of the last fiscal year, the figure rose 25.4%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 10 cents in the first quarter, by 15 cents in the fourth quarter of the last fiscal year, and by 8 cents in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 9.7% to $2.11 billion in the first quarter. The figure rose 11.6% in the fourth quarter of the last fiscal year from the year earlier and climbed 11.1% in the third quarter of the last fiscal year from the year-ago quarter.

Gross margins grew 0.1 percentage point to 41.1%. The growth seemed to be driven by increased revenue, as the figure rose 8.3% from the year earlier quarter while costs rose 8%.

Competitors to Watch: Kirkland’s, Inc. (NASDAQ:KIRK), Williams-Sonoma, Inc. (NYSE:WSM), Pier one Imports, Inc. (NYSE:PIR), Walmart (NYSE:WMT), Target (NYSE:TGT), Costco (NASDAQ:COST).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)

 

More from The Cheat Sheet