Reuters: Hot Stocks: Bed Bath & Beyond posts strong profit, shares rise

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Free Bestselling eBooks It's easy: sign up in under 10 seconds, tell us what kind of eBooks you love & we'll email you a list of deals every day - FREE! Join now! From our sponsors

Bed Bath & Beyond posts strong profit, shares rise Sep 25th 2013, 21:21 Sept 23 | Wed Sep 25, 2013 5:21pm EDT Sept 23 (Reuters) - Bed Bath and Beyond Inc reported an 18 percent jump in second-quarter profit as the U.S. housing market recovery spurs demand for the home goods chain's products. Bed Bath's shares were up 5 percent after the bell. They had closed at $74.22 on Wednesday on the Nasdaq. The home merchandise category has remained comparatively strong as many U.S. retailers struggle to cope with cautious consumer spending. Consumers have been spending more on household goods as demand for new homes soar. Earlier this month, high-end home furnishing retailer Restoration Hardware Holdings Inc reported second-quarter results that surpassed Wall Street expectations and raised its full-year earnings forecast. Bed Bath and Beyond forecast third-quarter earnings of $1.11 to $1.16 per share, largely above Wall Street estimates of $1.12. Profit rose to $249.3 million, or $1.16 per share, in the quarter ended August from $224.3 million, 98 cents per share, last year. Net sales rose 9 percent to $2.82 billion, while comparable store sales rose 3.7 percent. Analysts on average had expected second-quarter earnings of $1.15 per share on revenue of $2.81 billion, according to Thomson Reuters I/B/E/S. (Reporting by Chris Peters in Bangalore; Editing by Anthony Kurian) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions