Bed Bath & Beyond 1Q Profit Tumbles 27%

Union, N.J. Bed Bath & Beyond Inc. said Wednesday its fiscal first-quarter profit tumbled 27%, as costs outweighed sales growth.

For the quarter ended May 31, Bed Bath & Beyond earned $76.8 million compared with $104.6 million for the same quarter in 2007.

Sales rose 6.1% to $1.65 billion from $1.55 billion in the year-ago period.

Meanwhile, same-store sales rose 0.8%.