-
Home is where the profits are
Fourth-quarter sales at Bed Bath & Beyond grew 11.6% to $2.5 billion while profits grew 25% to $283 million for the period ended Feb. 26. On a per share basis, profits increased 30% to $1.12 in the fourth quarter, far surpassing the 97 cents consensus estimate of analysts. Equally impressive was the company’s 8.5% same-store sales increase as it occurred on top of a prior-year fourth-quarter comp increase of 11.5%.
-
Bed Bath & Beyond's Q4 profit up 25%, to open 45 stores
Union, N.J. -- Bed Bath & Beyond reported Wednesday that profit for the fourth quarter ended Feb. 26 rose 25% to $283.5 million, compared with $226 million a year earlier.
The company, which forecast earnings growth for the current year that would beat Wall Street estimates, also said it expects to open 45 new stores this year across its banners , which also include Christmas Tree Shops and buybuy Baby, and expects to continue renovating and relocating existing stores.