Bed Bath & Beyond Releases Q4 Earnings; Shares Slide 5%
After the bell Wednesday, Bed Bath & Beyond Inc. (NASDAQ: BBBY) reported results for the fourth quarter of 2013 ended March 1, 2014.
Shares of the company are down five percent in after hours trading, after investors weren't feeling too optimistic regarding the company's results.
The retailer reported net earnings per diluted share of $1.60 for the fourth quarter or $4.79 for the full year. Bed Bath & Beyond also had quarterly comparable store sales increase by approximately 1.7 percent, this compares to an increase of 2.5 percent in last year's fiscal fourth quarter.
Net sales for the fiscal fourth quarter of 2013 stood at $3.203 billion, a decrease of 5.8 percent from net sales of $3.401 billion In addition, the company announced that during the fiscal fourth quarter of 2013, the company repurchased about $532 million in stock, which was approximately $7.5 million shares.
Bed Bath & Beyond is modeling net earnings per diluted share to be $0.92 to $0.96 for the first quarter of 2014.
As of March 1, 2014, the company has 1,496 total stores.
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