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Bed Bath & Beyond posts higher profit

SAN FRANCISCO (MarketWatch) -- Bed Bath & Beyond Inc. reported late Wednesday its fiscal first-quarter profit rose nearly 15% to $206.8 million, or 89 a share, from $180.6 million, or 72 cents a share, a year ago. Revenue for the three months ended May 26 rose to $2.22 billion from $2.11 billion. Analysts surveyed by FactSet Research had expected the Union, N.J.-based retailer to earn 84 cents a share on $2.24 billion in revnue. Bed Bath & Beyond shares fell 10% to $65.99 in after-hours trade. Ahead of the report, the stock was up 40% over the past 12 months.