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Bed Bath & Beyond Inc. Cuts Full Year Guidance.
M2 PRESSWIRE-29 June 2007-InvestorInstantMessaging: Bed Bath & Beyond Inc. Cuts Full Year Guidance(C)1994-2007 M2 COMMUNICATIONS LTD
RDATE:29062007
InvestorIM has been created as a tool for the average investor. The idea is simple, a website where the world can communicate. Do you have a stock related question, then why not ask 50,000 individual members? Are you a shareholder of Bed Bath & Beyond Inc. (NASDAQ:BBBY)? Join the many members engaged in this stock right now. Come see for yourself at www.investorim.com for your complimentary subscription.
Bed Bath & Beyond Inc. shares headed south in premarket electronic trading Thursday June 28, 2007 after the home goods chain lowered its guidance, citing uncertain economic trends.
Shares were off $1.56, or 4.2 percent, to $36 in early trading, having closed at $37.56 Wednesday.
The Union, N.J.-based retailer posted a 4 percent increase in first-quarter profit after the bell Wednesday. Results came in a penny above Wall Street expectations, which were lowered earlier in the month after the company reduced its guidance.
But the company's forecast for full-year profit of $2.11 to $2.26 per share came in below the average estimate of $2.33 per share, according to a poll by Thomson Financial.
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Source: HighBeam Research, Bed Bath & Beyond Inc. Cuts Full Year Guidance.