Bed Bath & Beyond Net Jumps 58 Percent in First Quarter
June 24, 2010,
UNION, N.J.-First-quarter net income for Bed Bath & Beyond reached $137.6 million, an increase of 58 percent over the bottom line in last year's first quarter.
The retailer's performance came about from a 13.5 percent rise in first-quarter net sales, which totaled $1.9 billion and which included a whopping 8.4 percent gain in same-store sales companywide. Bed Bath & Beyond also held its expenses relatively in check--with selling, general and administrative expenses edging up 4.8 percent and with a gain of 95 basis points in gross margin, which was 40.3 percent for the quarter.