Bed Bath & Beyond Inc. (BBBY: Quote) reported second-quarter net earnings of $224.3 million or $0.98 per share, compared to $229.4 million or $0.93 per share in the same quarter a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $1.02 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the fiscal second quarter of 2012 were approximately $2.593 billion, an increase of approximately 12.1% from net sales of approximately $2.314 billion reported in the fiscal second quarter of 2011. Twenty two analysts had consensus revenue estimate of $2.54 billion for the quarter.
Comparable store sales in the fiscal second quarter of 2012 increased by approximately 3.5%, compared with an increase of approximately 5.6% in last year's fiscal second quarter.
The company expects net earnings per share to be approximately $0.99 to $1.04 for the fiscal third quarter. Analysts expect the company to report earnings of $1.02 per share for the third-quarter.
The company continues to expects net earnings per share to increase by a high single to a low double digit percentage range for all of fiscal 2012, which will be 53 weeks and includes World Market and Linen Holdings from the date of each acquisition to the end of the fiscal year. Analysts expect the company to report earnings of $4.69 per share for fiscal 2012.
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by RTT Staff Writer
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