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To: Jerry Olson who wrote (851)	6/20/2002 4:20:16 PM
From: Frederick Langford	Respond to of 1854

BBBY yeah baby! .13 expected earned .15 Bed Bath & Beyond Inc. Announces Fiscal First Quarter Results * Net Earnings Increase 54.3% to $46.3 million ($.15 per share) * Net Sales Rise 34.9%; Comparable Store Sales Grow by 13.2% UNION, N.J., June 20 /PRNewswire-FirstCall/ -- Bed Bath & Beyond Inc. (Nasdaq: BBBY) today reported net earnings of $46.3 million ($.15 per share) in the fiscal first quarter ended June 1, 2002, an increase of approximately 54.3% from the $30.0 million ($.10 per share) earned in the fiscal first quarter of 2001. Net sales for the fiscal first quarter of 2002 were $776.8 million, an increase of approximately 34.9% from net sales of $575.8 million in the fiscal first quarter of 2001. Comparable store sales of the Bed Bath & Beyond stores in the fiscal first quarter of 2002 grew by approximately 13.2%, compared with an increase of approximately 4.4% in last year's fiscal first quarter. As of June 1, 2002, there were 409 Bed Bath & Beyond stores operating in 44 states and Puerto Rico, including 13 new stores opened during the fiscal first quarter. Including approximately 357,000 square feet added by the new units, total store space of the Bed Bath & Beyond stores at the end of the fiscal first quarter was approximately 15,081,000 square feet, an increase of approximately 20.3% over total store space of the Bed Bath & Beyond stores of approximately 12,533,000 square feet at the end of the corresponding period last year. Since the beginning of the fiscal second quarter on June 2, 2002, 6 new Bed Bath & Beyond stores have been opened, bringing the total number of stores now operating to 415 stores in 44 states and Puerto Rico. Including those already opened year-to-date, the Company plans to open approximately 88 stores, in both new and existing markets, during fiscal 2002, (which ends on March 1, 2003). In addition, during the fiscal first quarter the Company acquired Harmon Stores, Inc., a health and beauty care retailer. Bed Bath & Beyond Inc. is a nationwide chain of retail stores. The Company's Bed Bath & Beyond stores sell 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, the NASDAQ-100 Index and the Forbes 500.