Bed Bath sees 2.6% rise in Q3FY18 net sales

The company reported net earnings of $.18 per diluted share ($24.4 million) during the reported period, compared with $.44 per diluted share ($61.3 million) for the third quarter of fiscal 2017. During the third quarter, the company repurchased approximately $8 million of its common stock, representing approximately 527,000 shares.

The company ended the third quarter with approximately $1.0 billion in cash and investments, an increase of approximately $460 million, compared with approximately $561 million in cash and investments at the end of previous year.

The company's modeling assumptions for fiscal 2018 have been updated to consider its results to date, including the holiday selling season; the continuation of trends it has been experiencing; and actions being taken in support of the company's stronger bias towards prioritising long-term profitability over near-term sales growth.  It continues to model net earnings per diluted share for the full year to be about $2.00.

ALCHEMPro News Desk – India