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The Union, New Jersey-based company reported second quarter net income of $135.5 million, or 52 cents per share, compared with $119.3 million, or 46 cents per share, in the year-ago period.
Revenue rose 3% from last year, to $1.91 billion.
On average, Wall Street analysts expected a lower profit of 48 cents per share, on matching revenue of $1.91 billion.
BBBY also said that same-store sales fell 0.6% in the latest quarter. Same-store sales are a key indicator of a retailer's health, since they measure the performance of stores open at least one year.
Despite the positive earnings results, Bed Bath & Beyond shares fell $1.50, or -3.9%, in morning trading Thursday.
The Bottom Line
Shares of BBBY are trading near its 52-week high levels of $39 a share. The stock has technical support in the $32 price area on any significant pullback. If the shares can rebound from today's drop, we see overhead resistance around the $40-$43 price levels. We do not currently rate this non-dividend paying stock, but we do follow the company closely.
Bed Bath & Beyond Inc. (BBBY) does not currently pay a dividend.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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