Investors cheered houseware retailer Bed Bath & Beyond Inc’s (NASDAQ:BBBY) 2015 fourth quarter results on Thursday.
The company beat expectations for the quarter that ended Feb 27 reporting earnings of US$1.91 a share, or US$303.5mln, compared to expectations of US$1.81 per share.
Sales climbed 2.4%to US$3.4bn from US$3.3bn in the previous quarter, which rose to 2.8% when forex changes were stripped out. Analysts had forecast revenue of $3.39bn.
Bed Bath & Beyond saw online sales grow more than 25%, while sales at stores open at least a year were relatively flat during the quarter.
The firm also announced its first quarterly dividend of twelve and a half cents per share, which will be paid on July 19 to shareholders of record as of June 17.
Shares of Bed Bath & Beyond, which have been flat in the year so far, rose in early deals by around 3.8% to US$50.63.