Bed Bath & Beyond (BBBY) is up $2.89, or 7.4%, at $42.10, after the company this afternoon beat fiscal Q3 sales and profit expectations and forecast profit above expectations.
Q3 sales for the three months ended November 28 rose 11%, year over year, to $1.98 billion, about $75 million better than expected, yielding profit per share of 58 cents, comfortably ahead of the average 43-cent estimate. Comp-store sales rose 7.3%.
For Q4, the company sees profit per share of 67 cents to 71 cents versus the average 62-cent estimate.
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