Bed Bath And Beyond Misses On Third-quarter Sales

Shares of Bed Bath and Beyond fell 2% Thursday after the company missed third-quarter sales expectations. The company reported net income of $177.8 million, or $1.09 per share, down from $225.4 million, or $1.23 per share, in the year-earlier period. The FactSet consensus was for earnings per share of $1.09. Bed Bath and Beyond had lowered its earnings forecast to $1.07 to $1.10 a share in December, from a previous range of $1.14 to $1.21.Bed Bath and Beyond reported sales of $2.95 billion, up from $2.94 billion in the year-earlier period. The FactSet consensus was for sales of $2.97 billion. The company issued fourth-quarter guidance of $1.72 to $1.86 per share and $4.91 to $5.05 for the full year of 2015