(By Salman - iStockAnalyst Writer)Late on Wednesday, home-furnishings retailer,  Bed Bath & Beyond Inc. (NASDAQ: BBBY) announced that third quarter net income plunged about 37% to $87.7 million or 34 cents a share from $138.2 million or 52 cents a share in the year ago quarter. Net sales fell 0.7% to $1.783 billion from $1.795 billion in the third quarter of 2007. Same store sales declined 5.6%, compared to an increase of 0.8% in the same period in 2007. Analysts on average expected the company to report earnings of 33 cents a share for the quarter on revenue of $1.79 billion. Looking ahead, for the fourth quarter, the company expects earnings in the range of 40 cents to 46 cents a share. For the full year, the company expects to report earnings of $1.50 to $1.56 a share. Analysts on average currently expect earnings of 49 cents a share for the fourth quarter, and earnings of $1.58 a share for the full year.

Christopher & Banks Corp. (NYSE: CBK) posted a third-quarter net loss of $1.4 million or 4 cents a share, compared to net income of $10.2 million or 29 cents a share in the corresponding quarter last year. Revenue dropped to $143.0 million from $155.2 million in the same quarter last year. Consensus estimates were for a loss 9 cents a share for the quarter on revenue of $133.04 million. President and Chief Executive Officer Lorna Nagler said in a statement “While the challenging economic environment continues to impact our fiscal 2009 results, we are seeing evidence that a number of the initiatives we have been working on should result in a stronger and more profitable company when conditions normalize. For now, inventory and expense controls, and maintaining positive cash flow are our highest priorities. We are fortunate to have a strong balance sheet that puts us in a solid position to weather this storm. At the end of the third quarter, we had $90 million of cash and investments and no debt.”

Blood-testing products maker Immucor Inc. (NASDAQ: BLUD) reported that its second quarter net earnings rose marginally to $17.3 million or 24 cents a share from $16.2 million or 23 cents a share in the comparable quarter in 2007. Revenue jumped 18% to $73.0 million from $61.9 million in the prior year quarter. Analysts on average had projected earnings of 21 cents a share for the quarter on revenue of $71.07 million. Looking ahead, for fiscal year 2009, the company raised its earnings guidance to a range of 97 cents to $1.02 a share from its previous outlook of 94 cents to 98 cents a share. The company continues to expect revenue of $292 million to $300 million. Street analysts currently expect earnings of 98 cents a share for the full year on revenue of $297.24 million.