Bed, Bath & Beyond 3Q Earnings Down 36%

Union, N.J. Bed Bath & Beyond Inc. said Wednesday that its third-quarter earnings fell more than 36% as revenue and same-store sales slipped on a continued pullback in consumer spending.

The company said given current economic trends, it expects fourth-quarter earnings will fall below analyst estimates.

For the quarter ending Nov. 29, the company earned $87.7 million, down from a year-ago profit of $138.2 million. Sales fell 0.7%  to $1.78 billion from $1.79 billion last year.  Same-store sales fell 5.6%.

The results were in line with Wall Street expectations.