Bed Bath & Beyond profit leaps 31% in Q1

Union, N.J. -- Bed Bath & Beyond reported Wednesday that net income for the first quarter jumped 31% to $180.6 million, compared with $137.6 million in the year-ago period.

Revenue surged 10% to $2.11 billion, and same-store sales rose 7%. Results surpassed Wall Street expectations of $2.07 billion in revenue.

Bed Bath & Beyond has raised its outlook, now expecting full-year earnings to rise 15% to 20% over last year.