Bed, Bath & Beyond Shares Drop After Q4 Sales, Q1 Forecast Miss

Bed, Bath & Beyond Inc. said Wednesday its fiscal fourth-quarter profit fell to $321.1 million from $333.3 million. Per-share earnings rose to $1.80 from $1.60 a share after a decline in the number of shares outstanding. The most recent quarter's result matched FactSet consensus estimate. Sales rose to $3.34 billion from $3.2 billion. That missed the FactSet consensus of $3.37 billion. Bed, Bath & Beyond forecast first-quarter profit of 90 cents to 95 cents a share, including a 24-cent impact of several non-recurring items. Analysts surveyed by FactSet were looking for $1.02 a share. Bed, Bath & Beyond shares fell 3% in after-hours trading.