Bed Bath & Beyond misses Q1 profit, same-store sales

Union, N.J. – Bed, Bath & Beyond Inc. missed Wall Street expectations for profit and same-store sales during a not-so-comfy first quarter of 2015. Net earnings dropped 18% to $158.5 million from $187.1 million, with increased selling, general and administrative (SG&A) and interest expenses offsetting higher gross profit.



Net sales totaled $2.74 billion, an increase of 3% from $2.66 billion. Same-store sales increased by 2.2%, including the negative impact of Canadian currency fluctuation.



Looking ahead, Bed, Bath & Beyond expects net earnings per diluted share in the range of $1.18 to $1.23 for the second quarter and to be between relatively flat and a mid-single- digit percentage increase for the fiscal full year. Same-store sales are expected to grow 2%-3% both in the second quarter and during the full fiscal year.