Bed Bath & Beyond Inc. reported on Wednesday its fiscal fourth-quarter profit fell 16 percent as sales slowed.
The home goods retailer said its net income fell to $172.9 million or 66 cents per share compared to a $205.8 million or 72 cents per share in the prior year quarter.
Analysts surveyed by Thomson Financial and FactSet Research expected a quarterly profit of 65 and 66 cents per share respectively.
The company's revenue slumped 3 percent to $1.93 billion from $1.99 billion in the year-ago period.
On regular trading today shares of Bed Bath & Beyond fell $1.46 or 4.7 percent to close at $29.47 compared to $41.90 over 2007.