This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bed Bath & Beyond Warns Q4 Earnings Hit by 'Adverse Weather'

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 - Get Report) 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.

Must Read: Hurt By Amazon, Staples Is Near Death

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.

Shares were rising 0.20% to $69.30 after the markets closed on Friday.

"Despite the weather related challenges, we are pleased with our quarter," CEO Steven H. Temares stated. "Absent the disruptive weather, we believe we would have been comfortably within our sales and net earnings per share ranges of our model. Our store associates continue to perform admirably and we thank each of them for their extraordinary effort. We continue to make excellent progress on our omnichannel initiatives and stay on course for the execution of our long term strategic plan."

Bed Bath & Beyond will report its full fourth-quarter and full year earnings on April 9.

--Written by Laurie Kulikowski in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BBBY $42.19 -2.94%
AAPL $93.70 -0.60%
FB $101.91 0.90%
GOOG $683.11 -0.15%
TSLA $150.47 4.73%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs