Home furnisher Bed Bath & Beyond declares fiscal Q2 results
22 Sep '05
2 min read
Leading Home furnishing company Bed Bath & Beyond Inc reported net earnings of $141.4 million ($.47 per share) in the fiscal second quarter ended August 27, 2005, an increase of approximately 17.8 percent from the $120.0 million ($.39 per share) earned in the fiscal second quarter of 2004. Net sales for the fiscal second quarter of 2005 were approximately $1.431 billion, an increase of approximately 12.3 percent from net sales of approximately $1.274 billion in the fiscal second quarter of 2004. Comparable store sales in the fiscal second quarter of 2005 grew by approximately 4.5 percent.
For the fiscal first half ended August 27, 2005, net earnings increased 18.9 percent to $240.3 million ($.80 per share) from $202.1 million ($.66 per share) earned in the comparable period of the prior year. Net sales for the fiscal first half of 2005 rose 12.7 percent to approximately $2.676 billion from approximately $2.375 billion in the corresponding period of the prior year. Comparable store sales for the fiscal first half of 2005 increased by approximately 4.4 percent.
As of August 27, 2005, the Company operated a total of 749 stores, including 686 Bed Bath & Beyond stores (of which 15 were opened during the fiscal second quarter) in 44 states and Puerto Rico. In addition, as of that date, Christmas Tree Shops, Inc. operated 27 stores in 7 states and Harmon Stores, Inc. operated 36 stores in 3 states. Consolidated store space as of August 27, 2005 was approximately 23.7 million square feet.
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