NEW YORK ( TheStreet) -- Shares of Bed Bath & Beyond (BBBY - Get Report) rose in late trades on Wednesday after the specialty retailer trounced Wall Street's earnings expectations for its fiscal fourth quarter.
The Union, N.J.-based company reported earnings of $351 million, or $1.48 a share, for the three months ended Feb. 25 with sales up 9.1% from last year to $2.73 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of $1.33 a share on sales of $2.66 billion. Same-store sales rose 6.8% in the quarter.
The company also forecast earnings of 79 to 83 cents a share for its fiscal first quarter ending in May. The current consensus view is for a profit of 82 cents a share.
The stock was last quoted at $70.07, up 5.8%, on volume of more than 560,000, according to Nasdaq.com. Based on Wednesday's regular-session close at $66.23, the shares were up 15% so far in 2012.Bed Bath & Beyond expects earnings to increase in the high single to low double digit range on a percentage basis in the full fiscal year ending in February 2013. Check out TheStreet's quote page for Bed Bath & Beyond for year-to-date share performance, analyst ratings, earnings estimates and much more.
Premier ExhibitionsShares of Premier Exhibitions (PRXI - Get Report) rose in the extended session after the Atlanta-based company extended the deadline to submit bids for its auction of the Titanic artifact collection. The company cited the "level of interest in its auction of the Titanic artifact collection and the late entry of additional potential bidders" for the extension. The stock was last quoted at $3.08, up 14.1%, on volume of nearly 50,000, according to Nasdaq.com. Also moving in late trades was Carmike Cinemas (CKEC - Get Report), which was down nearly 7% to $13.55 on volume of more than 20,000 after the company said it's selling 4 million common shares in a public offering. -- Written by Michael Baron in New York.
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