Bed Bath & Beyond (BBBY)

Net Sales

Net sales in fiscal 2008 (fifty-two weeks) increased $159.4 million to $7.208 billion, representing an increase of 2.3% over $7.049 billion of net sales in fiscal 2007 (fifty-two weeks), which increased $431.5 million or 6.5% over the $6.617 billion of net sales in fiscal 2006 (fifty-three weeks). For fiscal 2008, the increase in net sales was generated by the Company’s new store sales increase of 4.6% partially offset by the decrease in comparable store sales. For fiscal 2007, approximately 82% of the increase in net sales was attributable to an increase in the Company’s new store sales, 26% of the increase was attributable to the acquisition of buybuy BABY, 15% of the increase was attributable to the increase in comparable store sales, all partially offset by 23% as a result of an additional week of sales in fiscal 2006.

For fiscal 2008, comparable store sales for 874 stores represented $6.746 billion of net sales; for fiscal 2007, comparable store sales for 792 stores represented $6.457 billion of net sales; and for fiscal 2006, comparable store sales for 683 stores represented $6.069 billion of net sales. For fiscal 2008, the decrease in comparable store sales was approximately 2.4%. Net sales and comp sales continued to be negatively affected by the economic slowdown including issues specific to the housing industry and the liquidation sales of a number of retailers, including a significant competitor.  For fiscal 2007, the increase in comparable store sales was approximately 1.0%. This increase reflected the continued consumer acceptance of the Company’s merchandise offerings and advertising programs, but was negatively affected by the economic slowdown, in general, and by issues specific to the housing and mortgage industries in particular. In those areas of the Country that were reported to be the most significantly affected by these issues, notably Arizona, California, Florida and Nevada, sales were noticeably weaker than in less affected areas.

Sales of domestics merchandise accounted for approximately 43%, 44% and 46% of net sales in fiscal 2008, 2007 and 2006, respectively, of which the Company estimates that bed linens accounted for approximately 13%, 14% and 15% of net sales in fiscal 2008, 2007 and 2006, respectively. The remaining net sales in fiscal 2008, 2007 and 2006 of 57%, 56% and 54%, respectively, represented sales of home furnishings and other items. No other individual product category accounted for 10% or more of net sales during fiscal 2008, 2007 or 2006.

Net Sales

Net sales in fiscal 2008 (fifty-two weeks) increased $159.4 million to $7.208 billion, representing an increase of 2.3% over $7.049 billion of net sales in fiscal 2007 (fifty-two weeks), which increased $431.5 million or 6.5% over the $6.617 billion of net sales in fiscal 2006 (fifty-three weeks). For fiscal 2008, the increase in net sales was generated by the Company’s new store sales increase of 4.6% partially offset by the decrease in comparable store sales. For fiscal 2007, approximately 82% of the increase in net sales was attributable to an increase in the Company’s new store sales, 26% of the increase was attributable to the acquisition of buybuy BABY, 15% of the increase was attributable to the increase in comparable store sales, all partially offset by 23% as a result of an additional week of sales in fiscal 2006.

For fiscal 2008, comparable store sales for 874 stores represented $6.746 billion of net sales; for fiscal 2007, comparable store sales for 792 stores represented $6.457 billion of net sales; and for fiscal 2006, comparable store sales for 683 stores represented $6.069 billion of net sales. For fiscal 2008, the decrease in comparable store sales was approximately 2.4%. Net sales and comp sales continued to be negatively affected by the economic slowdown including issues specific to the housing industry and the liquidation sales of a number of retailers, including a significant competitor.  For fiscal 2007, the increase in comparable store sales was approximately 1.0%. This increase reflected the continued consumer acceptance of the Company’s merchandise offerings and advertising programs, but was negatively affected by the economic slowdown, in general, and by issues specific to the housing and mortgage industries in particular. In those areas of the Country that were reported to be the most significantly affected by these issues, notably Arizona, California, Florida and Nevada, sales were noticeably weaker than in less affected areas.

Sales of domestics merchandise accounted for approximately 43%, 44% and 46% of net sales in fiscal 2008, 2007 and 2006, respectively, of which the Company estimates that bed linens accounted for approximately 13%, 14% and 15% of net sales in fiscal 2008, 2007 and 2006, respectively. The remaining net sales in fiscal 2008, 2007 and 2006 of 57%, 56% and 54%, respectively, represented sales of home furnishings and other items. No other individual product category accounted for 10% or more of net sales during fiscal 2008, 2007 or 2006.

Net Sales

Net sales for the three months ended November 29, 2008 were $1.783 billion, a decrease of $12.1 million or approximately 0.7% less than net sales of $1.795 billion for the corresponding quarter last year. For the three months ended November 29, 2008, the decrease in net sales was primarily attributable to a decrease in the Company’s comparable store sales, substantially offset by an increase in the Company’s new store sales.

For the three months ended November 29, 2008, comparable store sales for 905 stores represented $1.661 billion of net sales and for the three months ended December 1, 2007, comparable store sales for 822 stores represented $1.637 billion of net sales. The number of stores includes only those which constituted a comparable store for the entire respective fiscal period. The decrease in comparable store sales for the three months ended November 29, 2008 was approximately 5.6%, as compared with an increase of approximately 0.8% for the comparable period last year. Net sales and comparable store sales were adversely affected by the declining overall macroeconomic environment during the period, the liquidation sales of a major competitor, as well as a one week shift in the Thanksgiving holiday.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 43% and 57% of net sales, respectively, for the three months ended November 29, 2008 and approximately 45% and 55% of net sales, respectively, for the three months ended December 1, 2007.

For the nine months ended November 29, 2008, net sales were $5.285 billion, an increase of $169.3 million or approximately 3.3% over net sales of $5.116 billion for the corresponding nine months last year. For the nine months ended November 29, 2008, the increase in net sales was primarily attributable to an increase in the Company’s new store sales, partially offset by a decrease in comparable store sales.

For the nine months ended November 29, 2008, comparable store sales for 875 stores represented $4.929 billion of net sales and for the nine months ended December 1, 2007, comparable store sales for 793 stores represented $4.685 billion of net sales. The number of stores includes only those which constituted a comparable store for the entire respective fiscal period. Comparable store sales for the first fiscal nine months of 2008 decreased by approximately 1.7%, as compared with an increase of approximately 1.5% for the comparable period last year. Net sales and comparable store sales were negatively affected by the economic slowdown, including issues specific to the housing industry, and the liquidation sales of a number of retailers, including a major competitor.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 44% and 56% of net sales, respectively, for the nine months ended November 29, 2008 and approximately 45% and 55% of net sales, respectively, for the nine months ended December 1, 2007.

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Net Sales

Net sales for the three months ended August 30, 2008 were $1.854 billion, an increase of $86.2 million or approximately 4.9% over net sales of $1.768 billion for the corresponding quarter last year. For the three months ended August 30, 2008, the increase in net sales was primarily attributable to an increase in the Company’s new store sales.

For the three months ended August 30, 2008, comparable store sales for 895 stores represented $1.742 billion of net sales and for the three months ended September 1, 2007, comparable store sales for 810 stores represented $1.631 billion of net sales. The number of stores includes only those which constituted a comparable store for the entire respective fiscal period. The decrease in comparable store sales for the three months ended August 30, 2008 was 0.1%, as compared with an increase of approximately 2.2% for the comparable period last year. Net sales and comparable store sales were negatively affected by the overall economic environment, in general, and by issues specific to the housing industry, in particular. California, Florida, Arizona and Nevada were some of the states most significantly affected by these issues. In addition, the Company also experienced severe weather as well as a competitor’s going out of business sales in a number of markets.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 45% and 55% of net sales, respectively, for the three months ended August 30, 2008 and approximately 47% and 53% of net sales, respectively, for the three months ended September 1, 2007.

For the six months ended August 30, 2008, net sales were $3.502 billion, an increase of $181.4 million or approximately 5.5% over net sales of $3.321 billion for the corresponding six months last year. For the six months ended August 30, 2008, approximately 90% of the increase in net sales was attributable to an increase in the Company’s new store sales, approximately 6% of the increase was attributable to the increase in comparable store sales, and the balance of the increase was primarily attributable to the increase in buybuy BABY net sales, prior to inclusion in comparable store sales.

For the six months ended August 30, 2008, comparable store sales for 876 stores represented $3.268 billion of net sales and for the six months ended September 1, 2007, comparable store sales for 794 stores represented $3.048 billion of net sales. The number of stores includes only those which constituted a comparable store for the entire respective fiscal period. The increase in comparable store sales for the fiscal first half of 2008 was 0.3%, as compared with an increase of approximately 1.9% for the comparable period last year. Net sales and comparable store sales continued to be negatively affected by the economic slowdown, in general, and by issues specific to the housing industry, in particular. California, Florida, Arizona and Nevada were some of the states most significantly affected by these issues.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 44% and 56% of net sales, respectively, for the six months ended August 30, 2008 and approximately 46% and 54% of net sales, respectively, for the six months ended September 1, 2007.

Net Sales

Net sales for the three months ended May 31, 2008 were approximately $1.648 billion, an increase of $95.2 million or approximately 6.1% over net sales of approximately $1.553 billion for the corresponding quarter last year. Approximately 83% of the increase in net sales for the three months ended May 31, 2008 was attributable to an increase in the Company’s new store sales, approximately 13% of the increase was attributable to the increase in comparable stores sales and the balance of the increase was attributable to the increase in buybuy BABY net sales, prior to inclusion in comparable store sales.

For the three months ended May 31, 2008, comparable stores sales for 877 stores represented $1.526 billion of net sales and for the three months ended June 2, 2007, comparable store sales for 794 stores represented $1.417 billion of net sales. The number of stores includes only those which were a comparable store for the entire respective fiscal period. The increase in comparable store sales for the fiscal three months of 2008 was 0.8%, as compared with an increase of approximately 1.6% for the comparable period last year. The increase in comparable store sales reflects the continued consumer acceptance of the Company’s merchandise offerings and advertising programs, but was negatively affected by the economic slowdown, in general, and by issues specific to the housing and mortgage industries, in particular. In those areas of the Country that have been reported as being the most significantly affected by these issues, notably Arizona, California, Florida and Nevada, comparable store sales were noticeably weaker than in less affected areas.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 44% and 56% of net sales, respectively, for the three months ended May 31, 2008.  The sales of domestics merchandise and home furnishings accounted for approximately 45% and 55% of net sales, respectively, for the three months ended June 2, 2007.

Net Sales

Net sales in fiscal 2007 (fifty-two weeks) increased $431.5 million to $7.049 billion, representing an increase of 6.5% over the $6.617 billion of net sales in fiscal 2006 (fifty-three weeks), which increased $807.9 million or

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Net Sales

Net sales for the three months ended December 1, 2007 were approximately $1.795 billion, an increase of $175.5 million or approximately 10.8% over net sales of approximately $1.619 billion for the three months ended November 25, 2006. For the three months ended December 1, 2007, approximately 50% of the increase in net sales was attributable to an increase in the Company’s new store sales, with the remainder of the increase primarily attributable to a one week calendar shift in the current year’s quarter

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Net Sales

Net sales for the three months ended September 1, 2007 were approximately $1.768 billion, an increase of $160.5 million or approximately 10.0% over net sales of approximately $1.607 billion for the corresponding quarter last year. For the six months ended September 1, 2007, net sales were approximately $3.321 billion, an increase of $317.8 million or approximately 10.6% over net sales of approximately $3.003 billion for the corresponding six months last year.

For the three months ended September 1, 2007, approximately 55.8% of the increase in net sales was attributable to an increase in the Company’s new store sales, 18.0% of the increase was attributable to buybuy BABY (acquired on March 22, 2007), and the balance of the increase was primarily attributable to the increase in comparable store sales. For the six months ended September 1, 2007, approximately 57.4% of the increase in net sales was attributable to an increase in the Company’s new store sales, 16.9% of the increase was attributable to buybuy BABY, and the balance of the increase was primarily attributable to the increase in comparable store sales. The increase in comparable store sales for the fiscal second quarter of 2007 was 2.2%, as compared with an increase of approximately 4.8% for the comparable period last year. Comparable store sales for the fiscal first half of 2007 increased by approximately 1.9%, as compared with an increase of 4.8% for the comparable period last year. The Company believes the decrease in comparable store sales percentage versus the same period last year is primarily due to the challenging retailing environment related to the home.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 47% and 53% of net sales, respectively, for the three months ended September 1, 2007 and approximately 46% and 54% of net sales, respectively, for the six months ended September 1, 2007.  The sales of domestics merchandise and home furnishings accounted for approximately 48% and 52% of net sales, respectively, for the three months ended August 26, 2006 and approximately 47% and 53% of net sales, respectively, for the six months ended August 26, 2006.

Net Sales

Net sales for the three months ended June 2, 2007 were approximately $1.553 billion, an increase of $157.3 million or approximately 11.3% over net sales of approximately $1.396 billion for the corresponding quarter last year.

Approximately 58.8% of the increase in net sales for the three months ended June 2, 2007 was attributable to an increase in the Company’s new store sales, 15.8% of the increase was attributable to buybuy BABY (acquired on March 22, 2007), and the balance of the increase was primarily attributable to the increase in comparable store sales.  The increase in comparable store sales for the fiscal three months of 2007 was 1.6%, as compared with an increase of approximately 4.9% for the comparable period last year.  The Company believes the decrease in comparable store sales percentage versus the same period last year is primarily due to the challenging retailing environment related to the home.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 45% and 55% of net sales, respectively, for the three months ended June 2, 2007.  The sales of domestics merchandise and home furnishings accounted for approximately 47% and 53% of net sales, respectively, for the three months ended May 27, 2006.

Net Sales

Net sales in fiscal 2006 (fifty-three weeks) increased $807.9 million to $6.617 billion, representing an increase of 13.9% over the $5.810 billion of net sales in fiscal 2005 (fifty-two weeks), which increased $661.9 million or 12.9% over net sales of $5.148 billion in fiscal 2004.  Approximately 52% of the increase in fiscal 2006 was attributable to an increase in the Company’s new store sales, and the balance of the increase was primarily attributable to the increase in comparable store sales and the benefit of an additional week in fiscal 2006. The additional week of sales in fiscal 2006 represented approximately 1.6% of net sales. The increase in comparable store sales for fiscal 2006 of 4.9% was due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.  Comparable store sales percentage increases are calculated based on an equivalent number of weeks for each annual period. For fiscal 2005, approximately 64% of the increase in net sales was attributable to an increase in the Company’s new store sales, and the balance of the increase was primarily attributable to the increase in comparable store sales.

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Sales of domestics merchandise accounted for approximately 46%, 47% and 48% of net sales in fiscal 2006, 2005 and 2004, respectively, of which the Company estimates that bed linens accounted for approximately 15%, 16% and 17% of net sales in fiscal 2006, 2005 and 2004, respectively.  The remaining net sales in fiscal 2006, 2005 and 2004 of 54%, 53% and 52%, respectively, represented sales of home furnishings and other items. No other individual product category accounted for 10% or more of net sales during fiscal 2006, 2005 or 2004.

Net Sales

Net sales for the three months ended November 25, 2006 were approximately $1.619 billion, an increase of $170.6 million or approximately 11.8% over net sales of approximately $1.449 billion for the corresponding quarter last year.  For the nine months ended November 25, 2006, net sales were approximately $4.622 billion, an increase of $498.2 million or approximately 12.1% over net sales of approximately $4.124 billion for the corresponding nine months last year.

Approximately 62.1% and 60.4% of the increase in net sales for the three and nine months ended November 25, 2006, respectively, was attributable to an increase in the Company’s new store sales with the balance of the increase primarily attributable to the increase in comparable store sales.  Comparable store sales for the fiscal third quarter of 2006 increased by approximately 4.6%, as compared with an increase of approximately 3.1%, for the comparable period last year.  Comparable store sales for the fiscal nine months of 2006 increased by approximately 4.8%, as compared with an increase of approximately 4.0%, for the comparable period last year.  The increases in comparable store sales were due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.

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Sales of domestics merchandise for the Company accounted for approximately 47% and 48% of net sales for the three months ended November 25, 2006 and November 26, 2005, respectively.  Sales of home furnishings and other items accounted for approximately 53% and 52% of net sales for the nine months ended November 25, 2006 and November 26, 2005, respectively.

Net Sales

Net sales for the three months ended August 26, 2006 were approximately $1.607 billion, an increase of $176.1 million or approximately 12.3% over net sales of approximately $1.431 billion for the corresponding quarter last year.  For the six months ended August 26, 2006, net sales were approximately $3.003 billion, an increase of $327.6 million or approximately 12.2% over net sales of approximately $2.676 billion for the corresponding six months last year.

Approximately 59.2% and 59.5% of the increase in net sales for the three and six months ended

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August 26, 2006, respectively, was attributable to an increase in the Company’s new store sales with the balance of the increase primarily attributable to the increase in comparable store sales.  Comparable store sales for the fiscal second quarter of 2006 increased by approximately 4.8%, as compared with an increase of approximately 4.5%, for the comparable period last year.  Comparable store sales for the fiscal first half of 2006 increased by approximately 4.8%, as compared with an increase of approximately 4.4%, for the comparable period last year.  The increases in comparable store sales were due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 48% and 52% of net sales, respectively, for the three months ended August 26, 2006 and approximately 47% and 53% of net sales, respectively, for the six months ended August 26, 2006.  The sales of domestics merchandise and home furnishings accounted for approximately 49% and 51% of net sales, respectively, for both the three and six months ended August 27, 2005.

Net Sales

Net sales for the three months ended May 27, 2006 were approximately $1.396 billion, an increase of $151.5 million or approximately 12.2% over net sales of approximately $1.244 billion for the corresponding quarter last year.

Approximately 60.3% of the increase in net sales for the three months ended May 27, 2006 was attributable to an increase in the Company’s new store sales with the balance of the increase primarily attributable to the increase in comparable store sales. The increase in comparable store sales for the fiscal three months of 2006 was 4.9%, as compared with an increase of approximately 4.4% for the comparable period last year. The increase in comparable store sales was due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 47% and 53% of net sales, respectively, for the three months ended May 27, 2006. The sales of domestics merchandise and home furnishings accounted for approximately 48% and 52% of net sales, respectively, for the three months ended May 28, 2005.

Net Sales

Net sales in fiscal 2005 increased $661.9 million to $5.810 billion, representing an increase of 12.9% over the $5.148 billion of net sales in fiscal 2004, which increased $669.7 million or 15.0% over net sales of $4.478 billion in fiscal 2003. Approximately 64% of the increase in fiscal 2005 was attributable to an increase in the Company’s new store sales, and the balance of the increase was primarily attributable to the increase in comparable store sales. The increase in comparable store sales for fiscal 2005 of 4.6% was due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback. For fiscal 2004, approximately 56% of the increase in net sales was attributable to an increase in the Company’s new store sales, approximately 15% of the increase was attributable to the net sales of CTS (acquired on June 19, 2003) and the balance of the increase was primarily attributable to the increase in comparable store sales.

Sales of domestics merchandise accounted for approximately 47%, 48% and 51% of net sales in fiscal 2005, 2004 and 2003, respectively, of which the Company estimates that bed linens accounted for approximately 16%, 17% and 16% of net sales in fiscal 2005, 2004 and 2003, respectively. The remaining net sales in fiscal 2005, 2004 and 2003 of 53%, 52% and 49%, respectively, represented sales of home furnishings and other items. The change in the product mix between fiscal 2004 and 2003 is primarily the result of the acquisition of CTS in June 2003. No other individual product category accounted for 10% or more of net sales during fiscal 2005, 2004 or 2003.

Net Sales

Net sales for the three months ended November 26, 2005 were approximately $1.449 billion, an increase of $144 million or approximately 11.0% over net sales of approximately $1.305 billion for the corresponding quarter last year.  For the nine months ended November 26, 2005, net sales were approximately $4.124 billion, an increase of $444 million or approximately 12.1% over net sales of approximately $3.680 billion for the corresponding nine months of last year.

Approximately 71.9% and 67.5% of the increase in net sales for the three and nine months ended November 26, 2005, respectively, was attributable to an increase in the Company’s new store sales with the balance of the increase primarily attributable to the increase in comparable store sales.  The increase in comparable store sales for the fiscal three and nine months of 2005 was 3.1% and 4.0%, respectively, as compared with an increase of approximately 3.1% and 4.2% for the comparable periods last year.  As of the beginning of the third quarter of fiscal 2004, CTS is included in the calculation of comparable store sales. The increases in comparable store sales were due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 48% and 52% of net sales, respectively, for both the three and nine months ended November 26, 2005.  The sales of domestics merchandise and home furnishings accounted for approximately 49% and 51% of net sales, respectively, for both the three and nine months ended November 27, 2004.

Net Sales

Net sales for the three months ended August 27, 2005 were approximately $1.431 billion, an increase of $157.2 million or approximately 12.3% over net sales of approximately $1.274 billion for the corresponding quarter last year.  For the six months ended August 27, 2005, net sales were approximately $2.676 billion, an increase of $300.7 million or approximately 12.7% over net sales of approximately $2.375 billion for the corresponding six months of last year.

Approximately 64.5% and 65.5% of the increase in net sales for the three and six months ended August 27, 2005, respectively, was attributable to an increase in the Company’s new store sales with the balance of the increase primarily attributable to the increase in comparable store sales.  The increase in comparable store sales for the fiscal three and six months of 2005 was 4.5% and 4.4%,  respectively, as compared with an increase of approximately 4.8% and 4.9% for the comparable periods last year.  As of the beginning of the fiscal third quarter of 2004, CTS is included in the calculation of comparable store sales. The increases in comparable store sales were due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 49% and 51% of net sales, respectively, for both the three and six months ended August 27, 2005.  The sales of domestics merchandise and home furnishings accounted for approximately 52% and 48% of net sales, respectively, for the three months ended August 28, 2004 and approximately 51% and 49% of net sales, respectively, for the six months ended August 28, 2004.

Net Sales

Net sales for the three months ended May 28, 2005 were approximately $1.244 billion, an increase of $143.5 million or approximately 13.0% over net sales of approximately $1.101 billion for the corresponding quarter last year.

Approximately 66.6% of the increase in net sales for the three months ended May 28, 2005 was attributable to an increase in the Company’s new store sales with the balance of the increase primarily attributable to the increase in comparable store sales.  The increase in comparable store sales for the first quarter of 2005 was 4.4% as compared to 5.1% for the first quarter of 2004.  As of the beginning of the fiscal third quarter of 2004, CTS is included in the calculation of comparable store sales. The increase in comparable store sales was due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.

Sales of domestics merchandise accounted for approximately 48% and 50% of net sales for the three months ended May 28, 2005 and May 29, 2004, respectively.  Sales of home furnishings accounted for approximately 52% and 50% of net sales for the three months ended May 28, 2005 and May 29, 2004, respectively.

Net Sales

Net sales in fiscal 2004 increased $669.7 million to $5.148 billion, representing an increase of 15.0% over the $4.478 billion of net sales in fiscal 2003, which increased $812.8 million or 22.2% over net sales of $3.665 billion in fiscal 2002.  Approximately 56% of the increase in fiscal 2004 was attributable to an increase in the Company’s new store sales, approximately 15% of the increase was attributable to the net sales of CTS (acquired on June 19, 2003) and the balance of the increase was primarily attributable to the increase in comparable store sales.  The increase in comparable store sales for fiscal 2004 of 4.5% was due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.  For fiscal 2003, approximately 41% of the increase in net sales was attributable to an increase in BBB’s new store sales, approximately 34% of the increase was attributable to the net sales of CTS and the balance of the increase was primarily attributable to the increase in comparable store sales.

Sales of domestics merchandise accounted for approximately 48%, 51% and 55% of net sales in fiscal 2004, 2003 and 2002, respectively, of which the Company estimates that bed linens accounted for approximately 17%, 16% and 19% of net sales in fiscal 2004, 2003 and 2002, respectively.  The remaining net sales in fiscal 2004, 2003 and 2002 of 52%, 49% and 45%, respectively, represented sales of home furnishings.  The change in the product mix between fiscal 2004 and 2003 and between fiscal 2003 and 2002 is primarily the result of the acquisition of CTS in June 2003.  No other individual product category accounted for 10% or more of net sales during fiscal 2004, 2003 or 2002.

Net Sales

Net sales for the three months ended November 27, 2004 were approximately $1.305 billion, an increase of $130.4 million or approximately 11.1% over net sales of approximately $1.175 billion for the corresponding quarter last year.  For the nine months ended November 27, 2004, net sales were approximately $3.680 billion, an increase of $500.0 million or approximately 15.7% over net sales of approximately $3.180 billion for the corresponding nine months of last year.

Approximately 53.6% of the increase in net sales for the nine months ended November 27, 2004 was attributable to an increase in the Company’s new store sales, approximately 20.7% of the increase was attributable to CTS’ sales (acquired on June 19, 2003) and the balance of the increase was primarily attributable to the increase in comparable store sales.  Approximately 73.1% of the increase in net sales for the three months ended November 27, 2004 was attributable to an increase in the Company’s new store sales with the balance of the increase primarily attributable to the increase in comparable store sales.  The increase in comparable store sales for the fiscal three and nine months of 2004 was 3.1% and 4.2%, respectively. The increases in comparable store sales are due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 49% and 51% of net sales, respectively, for both the three and nine months ended November 27, 2004.  The sales of domestics merchandise and home furnishings accounted for approximately 48% and 52% of net sales, respectively, for the three months ended November 29, 2003 and approximately 49% and 51% of net sales, respectively, for the nine months ended November 29, 2003.

Net Sales

Net sales for the three months ended November 27, 2004 were approximately $1.305 billion, an increase of $130.4 million or approximately 11.1% over net sales of approximately $1.175 billion for the corresponding quarter last year.  For the nine months ended November 27, 2004, net sales were approximately $3.680 billion, an increase of $500.0 million or approximately 15.7% over net sales of approximately $3.180 billion for the corresponding nine months of last year.

Approximately 59.0% of the increase in net sales for the nine months ended November 27, 2004 was attributable to an increase in the Company’s new store sales, approximately 20.7% of the increase was attributable to CTS’ sales (acquired on June 19, 2003) and the balance of the increase was primarily attributable to the increase in comparable store sales.  Approximately 73.1% of the increase in net sales for the three months ended November 27, 2004 was attributable to an increase in the Company’s new store sales with the balance of the increase primarily attributable to the increase in comparable store sales.  The increase in comparable store sales for the fiscal three and nine months of 2004 was 3.1% and 4.2%, respectively. The increases in comparable store sales are due to a number of factors, including but not limited to, the continued consumer acceptance of the Company’s merchandise offerings and a strong focus on customer service with an emphasis on responding to customer feedback.

Sales of domestics merchandise and home furnishings for the Company accounted for approximately 49% and 51% of net sales, respectively, for both the three and nine months ended November 27, 2004.  The sales of domestics merchandise and home furnishings accounted for approximately 48% and 52% of net sales, respectively, for the three months ended November 29, 2003 and approximately 49% and 51% of net sales, respectively, for the nine months ended November 29, 2003.