September 21, 2011 / 9:16 PM / 8 years ago

Bed Bath Q2 profit beats Street view

Shoppers inspect cleaning supplies while shopping inside of a Bed Bath & Beyond store in New York April 13, 2011. REUTERS/Lucas Jackson

(Reuters) - Bed Bath & Beyond Inc (BBBY.O) posted a quarterly profit that beat Wall Street expectations, as more shoppers showed an interest in decorating their homes.

Net income for the second quarter was $229.4 million, or 93 cents a share, compared with $181.8 million, or 70 cents a share, a year ago.

Analysts on an average had expected the company to earn 84 cents a share, according to Thomson Reuters I/B/E/S.

The company, which sells everything from toasters to shower curtains, said revenue rose 8 percent to $2.31 billion, in line with analysts’ expectations.

The company’s same-store sales, a key gauge of retail health, rose 5.6 percent.

For the third quarter, Bed Bath expects to earn 82-87 cents a share, compared with average analysts’ expectations of 86 cents per share.

Shares of the Union, New Jersey-based company rose 2 percent to $58.68 in extended trading. They closed at $57.48 on Wednesday on Nasdaq.

Reporting by Arpita Mukherjee in Bangalore; Editing by Roshni Menon

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