Bed Bath & Beyond Qtly Comp Store sales rise

04 Jan '08

3 min read

Net sales for the fiscal nine months of 2007 were approximately $5.116 billion, an increase of approximately 10.7% from net sales of approximately $4.622 billion reported in the corresponding period a year ago. Comparable store sales for the fiscal nine months increased by approximately 1.5%, compared with an increase of approximately 4.8% in last year's fiscal nine months.

For the fiscal fourth quarter of 2007, ending March 1, 2008, the Company estimates it will earn approximately $.64 to $.67 per diluted share based, in part, upon a projected flat comparable store sales percentage for the quarter. This would bring the Company's full year earnings estimate to a range from approximately $2.08 to $2.11 per diluted share. The fiscal 2007 fourth quarter and full year have one less week than last year's corresponding periods, as fiscal 2006 was a fifty-three week year.

As of December 1, 2007, the Company operated a total of 946 stores, including 859 Bed Bath & Beyond stores (28 of which were opened during the fiscal third quarter) in 49 states, the District of Columbia and Puerto Rico. Also as of that date, buybuy BABY operated 8 stores in 4 states and Harmon operated 40 stores in 3 states (1 of which was opened during the fiscal third quarter) under the names Harmon and Harmon Face Values.

In addition, Christmas Tree Shops operated 39 stores in 10 states (3 of which were opened during the fiscal third quarter). Consolidated store space as of December 1, 2007 was approximately 29.5 million square feet. Since the beginning of the fiscal fourth quarter on December 2, 2007, 2 additional Bed Bath & Beyond stores, including the Company's first store in Canada, have been opened.

Bed Bath & Beyond Inc

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