Domestic merchandise retail store chain Bed Bath & Beyond (BBBY) reported higher top line results for fourth quarter of 2017, pushed by growth in customer-facing digital channels which increased sales by 5.2% to $3.71 billion. Comparable sales for fourth quarter 2017 declined by about 0.6%. Earnings, however, was impacted by the 2017 Tax Act, which sunk by 27.7% to $194 million or $1.41 per share. On an adjusted basis, the company reported earnings of $1.48 per share.
As the company reported disappointing forecast for fiscal 2018, the stock plunged 14% in after-market trading.
Dividend
Bed Bath’s BoD declared an increase in the quarterly dividend to $0.16 per share, which is payable on July 17, 2018 to shareholders of record at the close of business on June 15, 2018.
Outlook
The company expects net earnings per diluted share for the full year 2018 to be in the low-to-mid $2 range.
Most Popular
BK Earnings: Bank of New York Mellon Q3 2024 earnings climb on higher revenues
The Bank of New York Mellon Corporation (NYSE: BK) on Friday said its adjusted earnings increased in the third quarter of 2024. The financial service provider's assets under management and
BLK Earnings: BlackRock reports better-than-expected Q3 2024 results
Asset management company BlackRock, Inc. (NYSE: BLK) on Friday reported higher revenues and adjusted profit for the third quarter of 2024, which also came in above Wall Street's projections. Third-quarter
JPM Earnings: Key quarterly highlights from JPMorgan’s Q3 2024 financial results
JPMorgan Chase & Co. (NYSE: JPM) reported its third quarter 2024 earnings results today. Reported net revenue increased 7% year-over-year to $42.6 billion. Managed revenue rose 6% to $43.3 billion.
