NEW YORK (TheStreet) - Is there any retailer, apparel, specialty or home-related, that hasn't warned at this point about the horrible fourth quarter they experienced, specifically blaming crappy winter weather?
Bed Bath & Beyond (BBBY) is the latest retail chain to warn that Wall Street's expectations of $1.65 a share on $3.26 billion of revenue for the March 1 ended quarter are too high.
The Union, N.J.-based company said Friday "adverse weather conditions" hit comparable store sales by roughly 2% to 2.5% in the quarter, meaning that earnings per share would be 6 cents to 7 cents lower due to the weather.
"The impact of the disruptive weather included 464 times a store was closed for a full day and 1,923 times that a store was closed for a partial day," the company said.Overall, Bed Bath & Beyond's comps rose 1.7% in the quarter, versus its previous comp sales growth guidance between 2% and 4%. The company now estimates net earnings per diluted share of approximately $1.57 to $1.61 for the quarter as compared to $1.60 to $1.67, previously. Follow @LKulikowski
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