Bed Bath & Beyond (BBBY) Stock Down Following Earnings Miss

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:

"We rate BED BATH & BEYOND INC (BBBY) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, notable return on equity and attractive valuation levels. We feel its strengths outweigh the fact that the company shows weak operating cash flow."

You can view the full analysis from the report here: BBBY Ratings Report

BBBY ChartBBBY data by YCharts

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