Bed Bath & Beyond Rises on Q1 Results

Shares of Bed Bath & Beyond

are trading higher in the after-hours following the release of its Q1 earnings results. Currently, shares are higher by 2.33%, trading at $55.32; they ended the session flat%, at $54.06. Bed Bath & Beyond said that Q1 EPS came in at $0.72 on revenues of $2.11 billion; the Street was at $0.62 per share on revenues of $2.07 billion. Revenues increased 9.7% year over year. The company is now modeling net earnings per diluted share to be approximately $.77 to $.82 for the fiscal second quarter of 2011 and to increase by approximately 15% to 20% for all of fiscal 2011. 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.