Bed Bath & Beyond Q4'FY14 comparable store sales up 1.7%

10 Mar '14

3 min read

Bed Bath & Beyond Inc. provided preliminary information on its fiscal fourth quarter, including the impact of adverse weather conditions during the period. The Company's fourth quarter comprises the fiscal months of December, January and February and ended on March 1, 2014.

The impact of the disruptive weather included 464 times a store was closed for a full day and 1,923 times that a store was closed for a partial day. For the fiscal quarter, the estimated resulting impact due to the disruptive weather on comparable store sales was in the range of 2.0% to 2.5%. The estimated impact on net earnings per diluted share for the quarter was approximately $.06 to $.07.

The Company's comparable store sales for the fiscal fourth quarter increased by approximately 1.7% as compared with its previous model of an increase of approximately 2.0% to 4.0%. Although it is early in the process of its financial close, the Company now estimates net earnings per diluted share of approximately $1.57 to $1.61 for the quarter as compared with its previous model of $1.60 to $1.67.

Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc. stated, "Despite the weather related challenges, we are pleased with itsquarter. Absent the disruptive weather, we believe we would have been comfortably within itssales and net earnings per share ranges of itsmodel.

Its store associates continue to perform admirably and we thank each of them for their extraordinary effort. We continue to make excellent progress on itsomnichannel initiatives and stay on course for the execution of itslong term strategic plan."

Bed Bath & Beyond Inc. and subsidiaries (the "Company") operates a chain of retail stores under the names of Bed Bath & Beyond, World Market, Cost Plus World Market, Cost Plus, a combination of the names Christmas Tree Shops or andThat!, Harmon, Harmon Face Values and buybuy BABY. The Company is also a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond. Through its retail stores, the Company sells a wide assortment of domestics merchandise and home furnishings.

Domestics merchandise includes categories such as bed linens and related items, bath items and kitchen textiles. Home furnishings include categories such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables and certain juvenile products.

Additionally, the Company includes Linen Holdings, a provider of a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, food service, healthcare and other industries.

Bed Bath & Beyond

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