Leading Home furnishing company Bed Bath & Beyond Inc reported net earnings of $134.6 million ($.45 per share) in the fiscal third quarter ended November 26, 2005, an increase of approximately 10.4 percent from the $121.9 million ($.40 per share) earned in the fiscal third quarter of 2004.
The fiscal third quarter results for 2005 included incremental stock- based compensation expense due to the early adoption of Statement of Financial Accounting Standards 123.
Net sales for the fiscal third quarter of 2005 were approximately $1.449 billion, an increase of approximately 11.0 percent from net sales of approximately $1.305 billion in the fiscal third quarter of 2004. Comparable store sales for the fiscal third quarter of 2005 grew by approximately 3.1 percent.
For the fiscal nine months ended November 26, 2005, net earnings increased approximately 15.7 percent to $374.9 million ($1.25 per share) from $324.0 million ($1.06 per share) earned in the comparable period of the prior year.
Net sales for the fiscal nine months of 2005 rose approximately 12.1 percent to approximately $4.124 billion from approximately $3.680 billion in the corresponding period of the prior year. Comparable store sales for the fiscal nine months increased by approximately 4.0 percent.
As of November 26, 2005, the Company operated a total of 793 stores, including 726 Bed Bath & Beyond stores (of which 40 were opened during the fiscal third quarter) in 46 states and Puerto Rico. In addition, as of that date, Christmas Tree Shops, Inc. operated 29 stores in 8 states, and Harmon Stores, Inc. operated 38 stores in 3 states.
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