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Bed Bath & Beyond Drops After Profit Forecast Trails Estimates

Bed Bath & Beyond Drops After Profit Forecast Trails Estimates
Bed Bath & Beyond fell 3.6 percent to $58.10 at 4:55 p.m. in extended trading after the announcement. The shares had gained 4 percent this year through today’s New York close. Photographer: David Paul Morris/Bloomberg

Bed Bath & Beyond Inc., the operator of more than 1,400 home-furnishing stores, declined in extended trading after projecting full-year profit that trailed analysts’ estimates.

Bed Bath & Beyond fell 3.6 percent to $58.10 at 4:55 p.m. in extended trading after the announcement. The shares had gained 4 percent this year through today’s New York close.

Profit will be $4.48 to $4.54 a share this year, the Union, New Jersey-based retailer said today in a statement. Analysts projected $4.62, the average of 25 estimates compiled by Bloomberg.

The company also announced a plan to repurchase $2.5 billion in its shares after the completion of its existing program, which began in December 2010.

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