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Bed Bath & Beyond net sales up 12.2%
22 Jun '06
2 min read
Home accessories retailer Bed Bath & Beyond Inc reported net earnings of $.35 per diluted share ($100.4 million) in the fiscal first quarter ended May 27, 2006. In the fiscal first quarter of 2005, the Company reported net earnings of $.33 per diluted share ($98.9 million).
Net sales for the fiscal first quarter of 2006 were $1.396 billion, an increase of approximately 12.2 percent from net sales of $1.244 billion reported in the fiscal first quarter of 2005. Comparable store sales in the fiscal first quarter of 2006 increased by approximately 4.9 percent, compared with an increase of approximately 4.4 percent in last year's fiscal first quarter.
The fiscal first quarter of 2006 results included incremental stock-based compensation expense resulting from the early adoption, at the beginning of the fiscal third quarter of 2005, of Statement of Financial Accounting Standards 123(R).
As of May 27, 2006, the Company operated a total of 819 stores including 751 Bed Bath & Beyond stores (10 of which were opened during the fiscal first quarter) in 46 states, the District of Columbia and Puerto Rico. In addition, as of that date, Christmas Tree Shops, Inc. operated 30 stores (one of which opened during the fiscal first quarter) in 8 states, and Harmon Stores, Inc. operated 38 stores in 3 states.
Consolidated store space as of May 27, 2006 was approximately 25.8 million square feet. Since the beginning of the fiscal second quarter on May 28, 2006,3 new Bed Bath & Beyond stores and one Christmas Tree Shops store have been opened.
Bed Bath & Beyond Inc and subsidiaries is a nationwide chain of retail stores, operating under the names Bed Bath & Beyond, Christmas Tree Shops and Harmon. The Company sells a wide assortment of merchandise principally including domestics merchandise and home furnishings as well as food, giftware and health and beauty care items.
Net sales for the fiscal first quarter of 2006 were $1.396 billion, an increase of approximately 12.2 percent from net sales of $1.244 billion reported in the fiscal first quarter of 2005. Comparable store sales in the fiscal first quarter of 2006 increased by approximately 4.9 percent, compared with an increase of approximately 4.4 percent in last year's fiscal first quarter.
The fiscal first quarter of 2006 results included incremental stock-based compensation expense resulting from the early adoption, at the beginning of the fiscal third quarter of 2005, of Statement of Financial Accounting Standards 123(R).
As of May 27, 2006, the Company operated a total of 819 stores including 751 Bed Bath & Beyond stores (10 of which were opened during the fiscal first quarter) in 46 states, the District of Columbia and Puerto Rico. In addition, as of that date, Christmas Tree Shops, Inc. operated 30 stores (one of which opened during the fiscal first quarter) in 8 states, and Harmon Stores, Inc. operated 38 stores in 3 states.
Consolidated store space as of May 27, 2006 was approximately 25.8 million square feet. Since the beginning of the fiscal second quarter on May 28, 2006,3 new Bed Bath & Beyond stores and one Christmas Tree Shops store have been opened.
Bed Bath & Beyond Inc and subsidiaries is a nationwide chain of retail stores, operating under the names Bed Bath & Beyond, Christmas Tree Shops and Harmon. The Company sells a wide assortment of merchandise principally including domestics merchandise and home furnishings as well as food, giftware and health and beauty care items.
Bed Bath & Beyond Inc
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