NEW YORK (
Bed Bath & Beyond
stock tumbled in extended trading Wednesday after the company issued a lackluster second-quarter outlook.
The household-goods retailer said it expects second-quarter earnings in the range of 59 cents to 63 cents a share, below Wall Street's forecast of 64 cents.
Thie guidance appeared to overshadow what was a solid first quarter for the company. During the period, Bed Bath & Beyond earned $137.6 million, or 52 cents a share, compared with $87.2 million, or 34 cents, in the year-ago period. Analysts were calling for a profit of 48 cents a share.
Its top line jumped 13.5% to $1.92 billion, while same-store sales grew 8.4%, the company said after Wednesday's closing bell.
For the full-year period, Bed Bath & Beyond predicts earnings-per-share growth of 15%. The company had previously forecast a range between 10% and 15%.
Shares of Bed Bath & Beyond were changing hands in after-market action at $38.75, down 6.6% from the regular-session close.
-Reported by Jeanine Poggi in New York.
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