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After-hours buzz: Barnes & Noble, Bed Bath & Beyond, Best Buy & more

Check out the companies making headlines after the bell Wednesday:

Barnes & Noble shares popped after the books and media retailer reported quarterly earnings. The company reported an adjusted loss per share of 24 cents, and a 0.8 percent decline in same-store sales as it tries to grow its membership while cutting expenses related to e-reader Nook.

"We believe our marketing, merchandising and membership initiatives will lead to increased traffic and conversion in our stores," CEO Ron Boire said in a statement. "We are also excited about our plans to open four new concept stores opening later this year, beginning with the first store opening this October in Eastchester, New York."

New York Stock Exchange
Michael Nagle | Bloomberg | Getty Images
New York Stock Exchange

Bed Bath & Beyond shares stumbled in extended trading after the company reported worse-than-expected quarterly earnings. The home goods retailer posted earnings of 80 cents per share on revenues of $2.74 billion, below the 86 cents per share on sales of $2.78 billion expected by Thomson Reuters consensus estimates. Same-store sales, a key metric in the retail industry, fell 0.5 percent. They were expected to rise 0.6 percent in the first fiscal quarter.

Shares of retailer Best Buy edged lower after reports that the company's new chief financial officer impressed bankers. Corie Barry told analysts she plans to stick with the company's blueprint, according a report from Dow Jones.

Shares of Red Hat sank despite earnings that met Wall Street's expectations and revenues that narrowly beat estimates. The open source technology company reported adjusted earnings of 50 cents per share on $568 million in revenue. A Thomson Reuters consensus estimate predicted earnings of 50 cents per share on revenues of $563 million.

But the company's fiscal second quarter guidance fell just below estimates. Red Hat expects to earn 54 cents per share, adjusted, on $587 million to $593 million in revenue, the company said.

Office furnishing company Steelcase saw shares fall in light volume despite reporting higher-than-predicted earnings and revenue. Steelcase reported adjusted earnings per share of 18 cents on revenues of $719 million, above the 15 cents per share on sales of $702 million expected by a Thomson Reuters consensus estimate.

But Steelcase said that order patterns were mixed during the first fiscal quarter as energy firms, insurance companies and the federal government didn't measure up to the prior year and British customers held back.

"While we are forecasting an organic revenue decline in the second quarter, we remain positive about our longer-term prospects," said Dave Sylvester, senior vice-president and chief financial officer.

— CNBC's Alex Crippen contributed to this report.