Bed Bath & Beyond Inc. reports results for fiscal third quarter.
- Net Earnings per Diluted Share of $1.03
- Quarterly Net Sales Increase by Approximately 15.3%
- Quarterly Comparable Store Sales Increase by Approximately 1.7%
- Board of Directors Authorizes a New $2.5 Billion Share Repurchase Program
- Modeling Fiscal Fourth Quarter 2012 Net Earnings per Diluted Share of Approximately $1.60 to $1.67
- Modeling Full Year Net Earnings per Diluted Share to Increase by Approximately 10% to 12%, Consistent with Prior Estimates
Bed Bath & Beyond Inc. reported net earnings of $1.03 per diluted share ($232.8 million) in the fiscal third quarter ended November 24, 2012, an increase of approximately 8.4% versus net earnings of $.95 per diluted share ($228.5 million) in the same quarter a year ago.
Net sales for the fiscal third quarter of 2012 were approximately $2.702 billion, an increase of approximately 15.3% from net sales of approximately $2.344 billion reported in the fiscal third quarter of 2011.
Comparable store sales in the fiscal third quarter of 2012 increased by approximately 1.7%, compared with an increase of approximately 4.1% in last year's fiscal third quarter.
The Company estimates that the impact of Hurricane Sandy reduced its comparable store sales percentage during the fiscal third quarter by approximately 0.9%.
For the fiscal nine months ended November 24, 2012, the Company reported net earnings of $2.89 per diluted share ($663.9 million), an increase of approximately 11.2% over net earnings of $2.60 per diluted share ($638.5 million) in the corresponding period a year ago.
Net sales for the fiscal nine months of 2012 were approximately $7.513 billion, an increase of approximately 11.0% from net sales of approximately $6.768 billion in the corresponding period a year ago.
Comparable store sales for the fiscal nine months of 2012 increased by approximately 2.7%, compared with an increase of approximately 5.5% in last year's fiscal nine months.
