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Bed Bath & Beyond net sales increase by 10.8%

08
Jan '10
Bed Bath & Beyond Inc. reported net earnings of $.58 per diluted share ($151.3 million) in the fiscal third quarter ended November 28, 2009, an increase of approximately 71% versus net earnings of $.34 per diluted share ($87.7 million) in the same quarter a year ago. Net sales for the fiscal third quarter of 2009 were approximately $1.975 billion, an increase of approximately 10.8% from net sales of approximately $1.783 billion reported in the fiscal third quarter of 2008.

Comparable store sales in the fiscal third quarter of 2009 increased by approximately 7.3%, compared with a decrease of approximately 5.6% in last year's fiscal third quarter.

For the fiscal nine months ended November 28, 2009, the Company reported net earnings of $1.44 per diluted share ($374.0 million), an increase of approximately 31% over net earnings of $1.10 per diluted share ($283.7 million) in the corresponding period a year ago. Net sales for the fiscal nine months of 2009 were approximately $5.585 billion, an increase of approximately 5.7% from net sales of approximately $5.285 billion in the corresponding period a year ago. Comparable store sales for the fiscal nine months of 2009 increased by approximately 1.7%, compared with a decrease of approximately 1.7% in last year's fiscal nine months.

The Company now estimates that it will earn approximately $.67 to $.71 per diluted share for the fiscal fourth quarter and approximately $2.11 to $2.15 per diluted share for all of fiscal 2009.

BED BATH & BEYOND INC


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