Bed Bath & Beyond 2Q Profit Up Slightly

Los Angeles, Bed Bath & Beyond Inc. posted a slightly higher quarterly profit on Wednesday on increased sales and a one-time tax benefit and said its board of directors approved a $1 billion share buyback program.

Bed Bath & Beyond Inc., which operates the Bed Bath & Beyond, Christmas Tree Shops, Harmon Stores and buybuy BABY chains, said second-quarter net income rose 1% to $147 million from $145.5 million.

Bed Bath & Beyond’s quarterly sales rose 10% to $1.77 billion in line with analysts’ average estimate. Comp-store sales rose 2.2%.