BBBY posts 1Q earnings increase

UNION, N.J. Bed Bath & Beyond reported net earnings of 34 cents per diluted share ($87.2 million) in the fiscal first quarter ended May 30, compared with net earnings of 30 cents per diluted share ($76.8 million) in the same quarter a year ago.

The company reported that net sales for the fiscal first quarter of 2009 were approximately $1.694 billion, an increase of approximately 2.8% from net sales of $1.648 billion reported in the fiscal first quarter of 2008. Comparable-store sales for the fiscal first quarter of 2009 decreased by approximately 1.6%.