Bed Bath & Beyond Pulls Profit off Cost Cuts

Stock quotes in this article: BBBY  

Bed Bath & Beyond(BBBY Quote) may have reported an unexpected jump in first quarter earnings -- which is nice and all -- but the increase, in truth, has come from cost-cutting initiatives, and not from an overwhelming demand for home furnishings.

Still, a gain is a gain, to investors anyway, and shares spiked 6% to $30.10 in after-market trading.

During the quarter, the company earned $87.2 million, or 34 cents a share, up 13% from $76.8 million, or 30 cents, in the year prior. Analysts expected earnings of 25 cents.

Sales rose 3% to $1.69 billion, but same-store sales fell 1.6%.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,058.64 1,070.52 2,150.87 36.33
Oil *
72.02
UP
150.25
UP
13.78
UP
24.82
UP
0.41
10 Yr
3.63%
SPDR Gold
105.45
+1.52%
+1.30%
+1.17%
+1.14%
Data delayed 20 minutes

More From TheStreet

Latest Headlines
  • Top Rated Stocks from TheStreet Ratings
  • Find returns with the Dividend Calendar

Brokerage Partners

TheStreet Premium Services

All Services