Bed Bath & Beyond expects earnings rise

UNION, N.J. Bed Bath & Beyond today announced that it is presently estimating net earnings for the fiscal first quarter ended June 2 of approximately 36 cents to 38 cents per diluted share versus 35 cents per diluted share as reported in the first quarter last year. The increase in the company's comparable-store sales for the quarter is estimated to be approximately 1.6% as compared with the planned increase of 3% to 5%. Net sales for the fiscal quarter (including buybuy BABY from the date of acquisition), are estimated to increase by approximately 11% from net sales reported a year ago.

Steven Temares, ceo and member of the board of directors of Bed Bath & Beyond stated, "Based upon what we have experienced and has been reported by others, the overall retailing environment, especially sales of merchandise related to the home, has been challenging. The efforts of our associates and their ability to execute remain at high levels. We continue to base our decisions upon what is necessary to achieve our long-term objectives. While we did not achieve all of our financial goals during our initial fiscal quarter of 2007, we remain optimistic that this year will be our best ever."