NEW YORK (TheStreet) -- Shares of Bed Bath & Beyond Inc (BBBY) were down 2.2% to $68.79 in after-hours trading Wednesday, following the retailer's first quarter earnings release after the market closed.
For the first quarter, the home furnishings retailer posted a profit of 93 cents per share on revenue of $2.74 billion.
Wall Street was expecting the company to earn 94 cents per share on revenue of $2.74 billion for the quarter ended May 2015, according to Thomson Reuters data.
In the same quarter a year ago, the company earned 93 cents per share on sales of $2.66 billion.
Bed Bath & Beyond reported same store sales rose by 2.2% in the first quarter, lower compared to a growth of 2.5% analysts had projected.
In the same quarter of last year, the it posted same store sales growth of 0.4%.
In addition Bed Bath & Beyond repurchased about $385 million of its common stock during the first quarter.
Looking ahead, Bed Bath & Beyond guided fiscal second quarter earnings in a range of between $1.18 per share to $1.23 per share.
The Wall Street consensus estimate calls for a profit of $1.23 per share for the second quarter.
Union, N.J.-based Bed Bath & Beyond, with its subsidiaries, is a retailer selling a range of domestic merchandise, including bed linens and related items, bath items and kitchen textiles, as well as other home goods.
Shares closed at $70.34 in the regular session.
Separately, TheStreet Ratings team rates BED BATH & BEYOND INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: