Replies to post #10065 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[Fred Langford]

BBBY beats by 2 cents

Press Release Source: Bed Bath & Beyond Inc.


Bed Bath & Beyond Inc. Announces Third Quarter Results
Wednesday December 18, 4:16 pm ET
* Net Earnings Increase 41.8% to $75.1 million ($.25 per share) * Net Sales Increase by 23.3% * Comparable Store Sales Grow by 8.0%


UNION, N.J., Dec. 18 /PRNewswire-FirstCall/ -- Bed Bath & Beyond Inc. today reported net earnings of $75.1 million ($.25 per share) in the fiscal third quarter ended November 30, 2002, an increase of approximately 41.8% from the $53.0 million ($.18 per share) earned in the fiscal third quarter of 2001. Net sales for the fiscal third quarter of 2002 were $936.0 million, an increase of approximately 23.3% from net sales of $759.4 million in the fiscal third quarter of 2001. Comparable store sales of the Bed Bath & Beyond stores in the fiscal third quarter of 2002 grew by approximately 8.0%, compared with an increase of approximately 5.8% in last year's fiscal third quarter.
For the fiscal nine months ended November 30, 2002, net earnings increased 43.8% to $196.9 million ($.65 per share) from $136.9 million ($.46 per share) earned in the corresponding fiscal nine months of the prior year. Net sales for the fiscal nine months of 2002 rose 27.7% to $2.6 billion from $2.0 billion for the corresponding period of the prior year. Comparable store sales of the Bed Bath & Beyond stores for the fiscal nine months increased by approximately 9.5%, compared with an increase of approximately 5.0% in the corresponding period a year ago.