Bed Bath & Beyond Q3 profit beats, sales disappoint
Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that profit for the quarter ended Nov. 24 rose almost 2% to $232.8 million, from $228.5 million last year, edging Wall Street expectations.
Revenue increased 15% to $2.7 billion, just missing analysts’ forecasted $2.73 billion in revenue. Same-store sales rose 1.7%.
The retailer said it estimates Hurricane Sandy lowered comps by about 0.9% during the period.