Bed, Bath & Beyond beats Street on profit, sales in Q2

Union, N.J. – Bed, Bath & Beyond Inc. reported net earnings of $223.95 million in the second quarter of fiscal 2014, down 10% from $249.3 million but still ahead of Wall Street projections. Increases in both interest expense and selling, general and administrative expense helped reduce net earnings.



Net sales were approximately $2.94 billion, an increase of 4% from net sales of approximately $2.82 billion. This result also topped Wall Street expectations. Same-store sales rose 3.4%. Same-store sales results did not include Cost Plus World Market, but will include Cost Plus World Market beginning in the third quarter. Same-store sales results also exclude Linen Holdings because it represents non-retail activity.



As of Aug. 30, the company had a total of 1,506 stores, including 1,017 Bed Bath & Beyond stores, 269 stores under the names of World Market,Cost Plus World Market or Cost Plus, 92 Buybuy Baby stores, 78 stores under the names of Christmas Tree Shops, Christmas Trees Shops andThat! or andThat!, and 50 stores under the names of Harmon or Harmon Face Values.