Bed Bath & Beyond sales up 5 percent
Union, N.J.-based Bed Bath & Beyond reported net earnings for the second quarter fell 19 percent to $119.3 million from $147 million in the prior-year quarter.
Still, the retailer saw net sales rise 5 percent to $1.85 billion from $1.77 billion in the same period last year.
Comparable-store sales were nearly flat in the quarter, decreasing 0.1 percent. In the first half of the year, comparable-store sales rose 0.3 percent.
The specialty retailer opened 13 stores in the second quarter, including a second store in Canada, following an entry into that country last quarter.
Currently, Bed Bath & Beyond operates 994 stores, including 903 stores under its namesake banner, as well as 41 Christmas Tree Shops stores, 10 Buy Buy Baby stores and 40 stores under the Harmon name. The company also operates two Home & More stores in Mexico.