Bed Bath & Beyond Qtly Comp Store sales rise

04 Jan '08

3 min read

Bed Bath & Beyond Inc reported net earnings of $.52 per diluted share ($138.2 million) in the fiscal third quarter ended December 1, 2007, compared with net earnings of $.50 per diluted share ($142.4 million) in the same quarter a year ago. Net earnings in this year's third quarter included a net $8.0 million benefit due to the favorable resolution of discrete tax items required to be recorded in the quarter.

Net sales for the fiscal third quarter of 2007 were approximately $1.795 billion, an increase of approximately 10.8% from net sales of approximately $1.619 billion reported in the fiscal third quarter of 2006. Comparable store sales in the fiscal third quarter of 2007 grew by approximately 0.8%, compared with an increase of approximately 4.6% in last year's fiscal third quarter.

During the fiscal third quarter of 2007, the Company repurchased approximately 3.2 million shares of its common stock for an aggregate cost of approximately $103 million. Through December 1, 2007, including repurchases made during its fiscal third quarter, the Company repurchased approximately 24.5 million shares, for an aggregate cost of approximately $929 million, under the $1 billion share repurchase program authorized in December 2006.

For the fiscal nine months ended December 1, 2007, the Company reported net earnings of $1.44 per diluted share ($389.9 million), compared with net earnings of $1.36 per diluted share ($388.4 million) in the corresponding period a year ago.

More Bed Bath & Beyond Inc News... More Textiles News - United States Of America...