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Bed Bath & Beyond reports flat revenue growth in Q2FY17
23
Sep '16
Courtesy:  Bed Bath & Beyond
Courtesy: Bed Bath & Beyond
Home textiles retailer Bed Bath & Beyond reported flat growth in revenues for the three months ended August 31, 2016. Net sales were around $2.988, as against $2.995 billion in the fiscal ago quarter. However, comparable sales decreased higher by 1.2 per cent compared with an increase of 0.7 per cent in the previous fiscal's same quarter.

In the reporting quarter, the company posted net income at $167.3 million or $1.11 per diluted share vis-à-vis $201.7 million or $1.21 per diluted share in second quarter of fiscal 2016.

For full fiscal 2017, Bed Bath & Beyond maintained its net earnings per diluted share guidance to be within the $4.50 to $5.00 range.

During the quarter under review, the retailer repurchased around $121 million of its common stock, representing approximately 2.7 million shares, under its existing $2.5 billion share repurchase program. (AR)

Fibre2Fashion News Desk – India


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