Bed Bath & Beyond sees strong growth
Bed Bath & Beyond reported net earnings of $283.5 million in the fourth quarter ended Feb. 26, up 25.4% from $226.0 million in the same quarter last year.
Comparable-store sales in the quarter increased 8.5%, as total sales increased 11.6% to $2.505 billion.
For the full year, the company reported net earnings of $791.3 million, up from $600.0 million a year ago. Net sales for fiscal 2010 were $8.759 billion, an increase of 11.9% from $7.829 billion in the prior fiscal year. Comparable-store sales for fiscal 2010 were up 7.8%.
As of Feb. 26, 2011, the Union, N.J.-based company had a total of 1,139 stores, including 982 Bed Bath & Beyond stores.