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Earnings previews: Circuit City, Bed Bath & Beyond

Consumer electronics retailer Circuit City Stores Inc. (NYSE: CC) and leading domestics retailer Bed Bath & Beyond Inc. (NYSE: BBBY) are scheduled to report earnings tomorrow. Here's a quick peek ahead of results.

Circuit City has fallen short of earnings estimates in the past five quarters. When the Richmond, Virginia-based company reported fourth-quarter results back in November, its loss of 64 cents per share was deeper than the 31 cents per share loss forecast by analysts polled by Thomson Financial, as well as the nine cents per share loss in the same period of 2006. For the current quarter, analysts expect the loss to narrow to six cents per share, compared to a profit of 61 cents in the year-ago quarter.

The company's earnings per share growth forecast for this year is a dismal -92.7%, worse than the industry average, as well as the 2.45% of rival Best Buy Inc. (NYSE: BBY). So it's little surprise that the analysts' consensus recommendation is to hold Circuit City, and has been for at least three months. Shares are trading much closer to the 52-week low of $3.44 from mid March than the 52-week high of $19.12 from almost a year ago. The share price closed Monday at $4.76, and fell to about $4.62 in early trading Tuesday.

For more about pressure to oust the CEO, to drop Circuit City from the S&P 500, or other news that could influence earnings results, see BloggingStocks' Circuit City coverage.

Union, New Jersey-based Bed Bath & Beyond has beat earnings expectations in the past four quarters. When it reported fourth-quarter results back in November, its 52 cents per share earnings beat the consensus forecast of analysts surveyed by Thomson Financial by a penny, and was up two cents from the same period of the previous year. For the current quarter, analysts expect 64 cents per share, down from 79 cents in the year-ago quarter.

The company's earnings per share growth forecast for this year is -7.19%, worse than the industry average and the S&P 500. The consensus analysts' recommendation has recently shifted from buy back to hold Bed Bath & Beyond. Shares closed Monday at $31.11, up from the 52-week low of $24.49 in early January, and surged to $31.70 in early trading Tuesday.

For analyst downgrades and other news that could influence the earnings results, see BloggingStocks' Bed Bath & Beyond coverage.

Visit AOL Money & Finance for more earnings coverage.

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Last updated: May 16, 2008: 01:45 PM

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