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Bed Bath and Beyond confirms weak Q4
Sales and profits were as bad as Bed Bath & Beyond initially feared due to extensive weather related store closures during the company's fourth quarter ended March 1.
The company said sales during its 13 week fourth quarter declined 5.8% to $3.2 billion while same store sales advanced 1.7%. Profits during the 13 week period declined to $333 million, or $1.60 a share, compared to the 14 week period the prior year when profits totaled $374 million, or $1.68 per share.