| Bed Bath & Beyond shares fall after 3Q results and Stein Mart posts larger 3Q loss |
| News - Financial News |
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Shares of housewares retailer Bed Bath & Beyond Inc. fell sharply Thursday after the company reported fiscal third-quarter sales that fell short of analyst expectations and forecast fourth quarter profit range that bracketed Wall Street's prediction. THE SPARK: Bed Bath & Beyond said Wednesday that its profit and revenue rose in its September-November quarter. But its revenue of $2.34 billion was just shy of the $2.36 billion that analysts expected, according to a survey by FactSet. Its prediction for the current quarter, which ends in February, was for earnings of $1.28 to $1.33 per share. [Read the full article] Shares of United Continental were off 6.7 percent at $18.91 in morning trading as Delta and US Airways Group (NYSE:LCC - News) also fell. The Arca Airline index (NYSE:^XAL - News) was down 2 percent. AMR Corp was up 4.3 percent to about 60 cents and Southwest Airlines (NYSE:LUV - News) rose 0.4 percent to $8.43. [Read the full article] Vornado Realty Trust (NYSE:VNO - News), a leading real estate investment trust (:REIT), has recently announced its share of third quarter 2011 financial results of Toys R(TM) Us " a leading global retailer of dedicated toys and baby products. Vornado Realty, which currently owns about 32.7% of Toys R(TM) Us, will record its share when it reports its results for the fourth quarter ending December 31, 2011.Vornado Realty(TM)s fourth quarter 2011 will include a loss of $32.3 million or 16 cents per share on account of Toys R(TM) Us compared to a loss of $30.7 million or 15 cents per share in the year-earlier quarter.The business of Toys R(TM) Us is highly seasonal with the fourth quarter accounting for over 80% of the fiscal net income, primarily on strong holiday sales. For the quarter ended October 29, 2011, Toys R(TM) Us reported net sales of $2.70 billion compared to $2.72 billion in the year-ago quarter. [Read the full article] 
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