Bed Bath & Beyond Inc reported net earnings of $.50 per diluted share ($142.4 million) in the fiscal third quarter ended November 25, 2006. In the fiscal third quarter of 2005, the Company reported net earnings of $.45 per diluted share ($134.6 million).
Net sales for the fiscal third quarter of 2006 were approximately $1.619 billion, an increase of approximately 11.8% from net sales of approximately $1.449 billion reported in the fiscal third quarter of 2005. Comparable store sales for the fiscal third quarter of 2006 grew by approximately 4.6%, compared with an increase of approximately 3.1% in last year's fiscal third quarter.
For the fiscal nine months ended November 25, 2006, the Company reported net earnings of $1.36 per diluted share ($388.4 million). In the comparable nine months a year ago, the Company reported net earnings of $1.25 per diluted share ($374.9 million).
Net sales for the fiscal nine months of 2006 were approximately $4.622 billion, an increase of approximately 12.1% from net sales of approximately $4.124 billion reported in the corresponding period of the prior year. Comparable store sales for the fiscal nine months increased by approximately 4.8% compared with an increase of approximately 4.0% in last year's fiscal nine months.
The Company adopted Statement of Financial Accounting Standards 123(R) at the beginning of the fiscal third quarter of 2005. Results for the nine months of 2006 include non-comparable stock-based compensation expenses for the first half of fiscal 2006.
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