Bed, Bath & Beyond Q1 income up 58%

Union, N.J. Bed Bath & Beyond reported a sharply higher fiscal-first-quarter profit on double-digit sales growth and higher margins. The results topped Wall Street expectations, but the chain forecast earnings in the current quarter below analysts' estimates.

Bed Bath & Beyond said Wednesday its fiscal first-quarter net income jumped 58%, to $137.6 million. Revenue increased 13% to $1.92 billion, and said same-store sales rose by 8.4% during the quarter.