Bed, Bath & Beyond Earnings Cheat Sheet
Earnings: Increased 24.6% to a profit of $188.6 million ($0.74/share) versus $151.3 million ($0.58/share) YoY.
Revenue: Up 11.1% YoY to $2.19 billion.
Actual vs. Wall St. Expectations: BBBY beat the street, as analysts were expecting EPS of $0.66/share on revenues of $2.1 billion.
Notable Stats: Comparable-store sales increased a whopping 7%.
BBBY’s Board of Directors authorized a new $2 billion share repurchase program for early fiscal 2011.
Outlook: BBBY raised guidance to between $2.86 and $2.90 a share for the full year. Wall Street was expecting $2.82 a share.
Competitors to Watch: Target Corporation (NYSE:TGT), Wal-Mart Stores, Inc. (NYSE:WMT), Pier 1 Imports, Inc. (NYSE:PIR), Williams-Sonoma, Inc. (NYSE:WSM), and Haverty Furniture Companies, Inc. (NYSE:HVT).
Commentary: Shares of BBBY are testing 2-year highs. The stock is comfortably above the 50 and 200DMA.
Disclosure: No holdings in companies mentioned.