Bed Bath & Beyond Falls Following Q3 Earnings Release

Shares of Bed Bath & Beyond

are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 3.39%, trading at $59.35; they ended the regular session lower by 0.19%, at $61.43. Bed Bath & Beyond reported Q3 EPS of $0.95 on revenues of $2.34 billion; the Street was looking for $0.89 per share on revenues of $2.36 billion. Revenues increased 6.8% year over year. The company sees FY 2012 EPS in the range of $3.86-3.92; the previous range was $3.75-3.84 per share. During the fiscal third quarter of 2011, the company repurchased approximately $328 million of its common stock representing approximately 5.6 million shares. As of November 26, 2011, the remaining balance of the current share repurchase program authorized in December 2010 was approximately $1.3 billion. Bed Bath & Beyond Inc., along with its subsidiaries, is a chain of retail stores, operating under the names Bed Bath & Beyond, Christmas Tree Shops, Harmon and Harmon Face Values and buybuy BABY. In addition, the company is a partner in a joint venture, which operates two stores in the Mexico City market under the name Home & More.