Bed Bath & Beyond (BBBY, $33.00) posts +50% rise in fiscal Q1 revenue

Home retail chain Bed Bath and Beyond’s fiscal first-quarter sales rose almost +50% year-over-year , even as earnings missed analysts’ estimates.

The company’s earnings for the quarter came in at 5 cents adjusted vs. 8 cents expected by analysts polled by Refinitiv.

However, net sales rose to $1.95 billion from the year-ago quarter’s $1.3 billion, thereby topping expectations of $1.87 billion. The company core sales (i.e. sales from Bed Bath & Beyond, Buybuy Baby, Harmon Face Values and Decorist) surged +73% from the year-ago quarter.

Comparable sales ( revenue online and at shops open for at least 12 months) increased +86% from a year earlier, compared to analysts’ expectation of 75.6% (StreetAccount estimates).

For the second quarter, Bed Bath & Beyond predicts adjusted earnings to range between 48 cents and 55 cents per share, while analysts were expecting 52 cents per share. The company expects sales to range between $2.04 billion and $2.08 billion. Analysts were looking for $2.02 billion, according to Refinitiv data.

For the full fiscal year 2021, Bed Bath & Beyond boosted its revenue forecast to a range of $8.2 billion to $8.4 billion, compared to prior estimate of $8 billion to $8.2 billion. Analysts were expecting revenue of $8.15 billion. The company projects full-year adjusted earnings to range between $1.40 and $1.55 per share, while analysts had been looking for $1.47 a share.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.