Hi Al,
BBBY meets whisper number of .15
justwhispers.com
Bed Bath & Beyond Inc. Announces Second Quarter Results
/FROM PR NEWSWIRE NEW YORK 800-776-8090/
TO BUSINESS AND RETAILING EDITORS:
Bed Bath & Beyond Inc. Announces Second Quarter Results
- Net Earnings Increase 31.1% to $43.6 million ($.15 per share)
- Net Sales Increase of 30.5%
- Comparable Store Sales Grow by 6.1%
UNION, N.J., Sept. 20 /PRNewswire/ -- Bed Bath & Beyond Inc.
(Nasdaq: BBBY) today reported that in the fiscal second quarter (thirteen
weeks) ended August 26, 2000, as compared with the fiscal second quarter
(thirteen weeks) ended August 28, 1999, net earnings increased by 31.1% and
net earnings per share grew to $.15 from $.12, on an increase in net sales of
30.5%.
Net earnings for the fiscal second quarter of 2000 were $43.6 million,
compared with $33.2 million earned in the fiscal second quarter of the prior
year. Net sales for the fiscal second quarter were $597.0 million compared to
net sales of $457.6 million achieved in the corresponding quarter of the prior
year. Comparable store sales for the fiscal second quarter increased by
approximately 6.1%.
For the fiscal first half (twenty-six weeks) ended August 26, 2000, net
earnings increased 30.9% to $66.9 million ($.23 per share) from $51.1 million
($.18 per share) earned in the comparable period (twenty-six weeks) of the
prior year. Net sales for the fiscal six months rose 29.7% to $1.1 billion
from $817.0 million for the corresponding period of the prior year.
Comparable stores sales for the fiscal first half increased by approximately
5.6%.
Per share amounts have been adjusted to reflect the two-for-one stock
split of the Company's common stock on August 11, 2000 (which was effected in
the form of a 100% stock dividend).
Total store space as of the end of the fiscal second quarter, during which
twenty-one new superstores were opened, grew to approximately 10,808,000
square feet, an increase of approximately 30.4% over total store space of
approximately 8,286,000 square feet at the end of the fiscal first half a year
ago.
As of August 26, 2000, Bed Bath & Beyond Inc. operated 272 stores. Since
that date, the Company has opened 6 additional superstores bringing to 278
stores in 41 states the total number of stores now in operation. Including
these stores, the Company has opened 37 new superstores, including its first
units in Rhode Island, Mississippi and North Dakota, since the beginning of
its fiscal year.
The Company plans to open approximately 27 additional superstores, in both
new and existing markets, during the remainder of the current fiscal year, and
expects to be operating approximately 305 stores in 42 states by year end.
Bed Bath & Beyond Inc. is a nationwide chain of superstores selling better
quality domestics merchandise and home furnishings. Its stock is traded on
NASDAQ under the symbol "BBBY" and is included in the Standard & Poor's 500
Index and the NASDAQ-100 Index.
This press release may contain forward looking statements. Important
factors which may affect these statements are contained in the Company's
Annual Report to Shareholders for the fiscal year ended February 26, 2000 and
may be contained in any subsequent reports filed by the Company with the
Securities and Exchange Commission...
Fred |
