Bed Bath & Beyond 4Q Net Earnings Up 28.5%

Bed Bath & Beyond reported net earnings of $82.7 million in the fiscal fourth quarter of 2001 ended March 2, 2002, an increase of approximately 28.5% from the $64.3 million earned in the fiscal fourth quarter of 2000. Net sales for the fiscal fourth quarter were $879.1 million, an increase of approximately Comparable store sales for the fiscal fourth quarter of 2001 (thirteen weeks vs. thirteen weeks) increased by approximately 11.9%, compared with an increase of approximately 4.9% in last year's fiscal fourth quarter. Net earnings for fiscal 2001 totaled $219.6 million, exceeding fiscal 2000 net earnings of $171.9 million by approximately 27.7%. Fiscal 2001 was the 10th consecutive year of record earnings since the company's 1992 IPO. Net sales for fiscal 2001 were $2.9 billion, an increase of approximately 22.2% from the prior fiscal year. Fiscal 2001 consisted of fifty-two weeks, one week less than the fifty-three weeks in fiscal 2000.

Comparable store sales for fiscal 2001 (fifty-two weeks vs. fifty-two weeks) increased by approximately 7.1%, compared with an increase of approximately 5.0% in fiscal 2000.

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posted by srikanth....july8