Home / Knowledge / News / Textiles / Bed Bath & Beyond reports 4.2% hike in Q4FY14 sales
Bed Bath & Beyond reports 4.2% hike in Q4FY14 sales
13
Apr '15
Net sales at Bed Bath & Beyond Inc were up 4.2 per cent year over year for the fourth quarter ended February 28, 2015.

Net sales for the fourth quarter of fiscal 2014 were $3.337 billion, an increase of 4.2 per cent from net sales of $3.203 billion reported in the fourth quarter of fiscal 2013.

Comparable sales in the reporting quarter rose by 3.7 per cent, compared with an expansion of 1.7 per cent in last year's fiscal fourth quarter.

“Comparable sales for the fourth quarter of fiscal 2014 include an approximate 0.2 per cent from an unfavourable impact from the change in the Canadian currency exchange rate,” it said in a press release.

For the fourth quarter of fiscal 2014, the Company reported net income of $321.1 million or $1.80 per diluted share as against net income of $333.3 million or $1.60 per diluted share for prior year quarter.

Net sales for fiscal 2014 were $11.881 billion, a rise of 3.3 per cent from net sales of $11.504 billion in fiscal 2013, while comparable sales mounted 2.4 per cent, the same as in fiscal 2013.

For the fiscal under review, net income was $957.5 million or $5.07 per diluted share compared with $1.022 billion or $4.79 per diluted share.

“Cost Plus World Market was excluded from the comparable sales calculations through the end of the fiscal first half of 2013 and is included beginning with the fiscal third quarter of 2013,” it added.

According to Bed Bath & Beyond, Linen Holdings is excluded from the comparable sales calculations and will continue to be excluded on an ongoing basis because it represents non-retail activity.

During the fourth quarter of fiscal 2014, it repurchased approximately $947 million of its common stock, representing approximately 11.8 million shares.

Of this total, approximately $782 million, representing approximately 10.3 million shares, were from open market repurchases.

The remaining $165 million and 1.5 million shares represented the net settlement at the completion of the Company's $1.1 billion accelerated share repurchase program in December 2014.

As of February 28, 2015, the remaining balance of the current $2.0 billion share repurchase program was approximately $884 million.

The Company is projecting a 2-3 per cent increase for comparable sales for both the first quarter of fiscal 2015 and the full fiscal.

It expects net earnings per diluted share to be between $.90 and $.95 for the first quarter of fiscal 2015, and to be between relatively flat and a mid-single digit percentage increase for the fiscal full year.

The Company's fiscal 2015 model includes the impact of approximately $.24 per diluted share related to four non-comparable items between its 2014 results and its 2015 model. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.6%
No
13.4%
Skip
9.0%

Total Votes: 67

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.2%
No
28.4%
Skip
10.4%

Total Votes: 67

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.1%
No
10.4%
Skip
4.5%

Total Votes: 67

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.6%
No
11.9%
Skip
13.4%

Total Votes: 67


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search