Bed Bath & Beyond Reports Rise In Profits And Sales For Q2

For the fiscal second quarter ended August 31, Bed Bath & Beyond Inc. reported net earnings of $249.3 million, or $1.16 per diluted share, versus $224.3 million, or $0.98 cents per diluted share, in the same period a year ago. Net sales for the fiscal second quarter of 2013 were approximately $2.824 billion, an increase of approximately 8.9% from net sales of approximately $2.593 billion reported in the fiscal second quarter of 2012. 

For the third quarter, Bed Bath & Beyond forecast earnings of $1.11 to $1.16 a share, while Thomson Reuter’s published consensus analyst estimated $1.12 a share. Comparable store sales in the fiscal second quarter of 2013 increased by approximately 3.7%, compared with an increase of approximately 3.5% in last year’s fiscal second quarter. 

The company has a total of 1,484 stores, including 1,009 Bed Bath & Beyond stores in all 50 states, the District of Columbia, Puerto Rico and Canada, 266 stores under the names of World Market, Cost Plus World Market or Cost Plus, 86 Buybuy Baby stores, 74 stores under a combination of the names of Christmas Tree Shops or andThat!, and 49 stores under the names of Harmon or Harmon Face Values.  

During the fiscal second quarter, the company opened one Bed Bath & Beyond store, one Christmas Tree Shops store, three Buybuy Baby stores and one Harmon Face Values store.