(Reuters) - Home furnishing retailer Bed Bath & Beyond Inc (BBBY.O) on Wednesday reported a better-than-expected quarterly profit and reaffirmed its full-year earnings forecast, sending its shares up 22 percent in extended trading.
The Union, New Jersey-based company’s net income fell to $24.4 million, or 18 cents per share, in the third quarter ended Dec. 1, from $61.3 million, or 44 cents per share, a year earlier.
Analysts on average had expected a profit of 17 cents per share, according to IBES data from Refinitiv.
Net sales rose to $3.03 billion from $2.95 billion.
However, total comparable sales fell 1.8 percent, continuing their slide for the seventh straight quarter. Analysts had expected comparable sales to fall 0.29 percent.
Reporting by Soundarya J in Bengaluru; Editing by Maju Samuel
