Bed Bath & Beyond Inc. (BBBY) Wednesday reported fourth-quarter reported net earnings of $373.9 million or $1.68 per share, up 14 percent from $351.0 million or $1.48 per share last year.
Analysts polled by Thomson Reuters expected the company to earn $1.68 per share for the quarter.
Net sales for the fourth quarter grew 24.5 percent to $3.40 billion from $2.73 billion last year. Analysts estimated revenues of $3.39 billion for the quarter.
For the first quarter 2013, the company expects earnings of $0.88 to $0.94 per share. Bed Bath & Beyond models to increase its earnings for full year by a mid single to a low double digit percentage range. Analysts currently estimate earnings of $0.95 per share for the first quarter and $5.03 per share for the full year 2013.
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