Bed Bath & Beyond: Fiscal Q1 earnings snapshot

UNION, N.J. — Bed Bath & Beyond Inc. today reported a loss of $50.9 million in its fiscal first quarter.

On a per-share basis, the company said it had a loss of 48 cents. Earnings, adjusted for one-time gains and costs, were 5 cents per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The home goods retailer posted revenue of $1.95 billion in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $1.87 billion.

For the current quarter ending in September, Bed Bath & Beyond expects its per-share earnings to range from 48 cents to 55 cents.

The company said it expects revenue in the range of $2.04 billion to $2.08 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $2.01 billion.

Bed Bath & Beyond expects full-year earnings in the range of $1.40 to $1.55 per share, with revenue ranging from $8.2 billion to $8.4 billion.

Bed Bath & Beyond shares have climbed 68% since the beginning of the year, while the S&P’s 500 index has risen 14%. The stock has more than doubled in the past 12 months.