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Bed Bath & Beyond profit up, but slowing growth a concern
Union, N.J. -- Bed Bath & Beyond Inc. reported Thursday that net income rose 14.5% to $206.8 million, compared with $180.6 million in the year-ago period.
Revenue increased 5.1% to $2.22 billion from the year-earlier quarter, missing Wall Street’s projected $2.25 billion in revenue. Same-store sales rose 3%.
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Walmart at 50
Editor’s note: No one could have predicted that a colossus was in the making when the very first Wal-Mart opened its doors on July 2, 1962, in Rogers, Ark. Billed as the area’s first “quality discount center,” the store promised name brands and 22 departments, from jewelry and hobbies to ladies’ wear and shoes.
