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This excerpt taken from the BBBY 8-K filed Sep 23, 2009. Comparable Store Sales Decrease
by 0.6%
UNION, New Jersey, September 23, 2009 — Bed Bath & Beyond Inc. today reported net earnings of $.52 per diluted share ($135.5 million) in the fiscal second quarter ended August 29, 2009, an increase of approximately 13.0% over net earnings of $.46 per diluted share ($119.3 million) in the same quarter a year ago. Net sales for the fiscal second quarter of 2009 were approximately $1.915 billion, an increase of approximately 3.3% from net sales of approximately $1.854 billion reported in the fiscal second quarter of 2008. Comparable store sales in the fiscal second quarter of 2009 decreased by approximately 0.6%.
For the fiscal first half ended August 29, 2009, the Company reported net earnings of $.86 per diluted share ($222.7 million), an increase of approximately 13.2% over net earnings of $.76 per diluted share ($196.0 million) in the corresponding period a year ago. Net sales for the fiscal first half of 2009 were approximately $3.609 billion, an increase of approximately 3.1% from net sales of approximately $3.502 billion in the corresponding period a year ago. Comparable store sales for the fiscal first half of 2009 decreased by approximately 1.1%.
As of August 29, 2009, the Company had a total of 1,056 stores, including 943 Bed Bath & Beyond stores in 49 states, the District of Columbia, Puerto Rico and Canada, 53 Christmas Tree Shops stores, 19 buybuy BABY stores, and 41 stores under the names of Harmon or Harmon Face Values. During the fiscal second quarter, the Company opened nine Bed Bath & Beyond stores, three buybuy BABY stores and one Harmon Face Values store and closed one Bed Bath & Beyond store. Consolidated store space as of August 29, 2009 was approximately 32.5 million square feet. Since the beginning of the fiscal third quarter on August 30, 2009, three additional Bed Bath & Beyond stores and three additional buybuy BABY stores have been opened. In addition, through a joint venture, the Company operates two stores in the Mexico City market under the name “Home & More.”
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