Home / Knowledge / News / Textiles / Sales up 2.7% at Bed Bath & Beyond in Q3FY15
Sales up 2.7% at Bed Bath & Beyond in Q3FY15
13
Jan '15
US based home textiles retailer, Bed Bath & Beyond Inc said its sales grew 2.7 per cent from a year earlier quarter for fiscal 2014, ended November 29, 2014.

Net sales for the fiscal third quarter of 2014 amounted to $2.94 billion, up 2.7 per cent from $2.86 billion reported in the fiscal third quarter of 2013.

Comparable sales in the reporting quarter rose 1.7 per cent compared with an increase of 1.3 per cent in last year's fiscal third quarter.

The retailer posted net income of $225.4 million or $1.23 earnings per diluted share in quarter under review as against net income of $237.2 million or $1.12 earnings per diluted share in the prior year quarter.

Bed Bath & Beyond clarified that net earnings per diluted share for the third quarter of fiscal 2014 includes, around $.04 of net benefits for certain non-recurring items, including credit card fee litigation.

The $1.1 billion accelerated share repurchase program which commenced in July 2014 was completed in December 2014.

As of November 29, 2014, the remaining balance of the $2.0 billion share repurchase program was approximately $1.8 billion.

The Company expects net earnings per diluted share to be approximately $1.78 to $1.83 for fiscal fourth quarter of 2014 and $5.05 to $5.09 for the fiscal full year.

“The timing and amount of our share repurchases impacts the quarterly and full year diluted weighted average shares outstanding differently with the impact on the individual quarters being greater than the impact on the full year,” it explained.

It added, “So, the sum of the net earnings per diluted share for the four fiscal quarters of the year, representing the three fiscal quarters already reported, and the estimated net earnings per diluted share for the fiscal fourth quarter, is greater than the estimated fiscal full year net earnings per diluted share by approximately six to seven cents.”

Bed Bath & Beyond which is counted among the Fortune 500 and the Forbes 2000 companies operates a total of 1,510 stores.

During the fiscal third quarter, it opened four Bed Bath & Beyond stores, one buybuy BABY store, and one Cost Plus World Market store and closed two Bed Bath & Beyond stores.

In addition, the retailer is a partner in a joint venture which operates five stores in the Mexico City market under the name Bed Bath & Beyond. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 15th Jun 2021

EURATEX urges EU, US to establish level playing field for industry

Ahead of the EU-US Summit today, the European textile and apparel...

Pic: Shutterstock

Textiles | On 15th Jun 2021

Australia, UK agree on broad terms of trade deal

Prime Ministers Scott Morrison and Boris Johnson have agreed in...

Pic: Shutterstock

Textiles | On 15th Jun 2021

Germany passes law on corporate due diligence in rights, environment

The German parliament passed a law last week that warrants large and...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Tony Naschberger,

Tony Naschberger

With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...

Shivendra Nigam,

Shivendra Nigam

Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

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

Leave your Comments


June 2021

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


Advanced Search