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Bed Bath & Beyond sales, earnings up in Q2

Bed Bath & Beyond's earnings per diluted share for its second quarter rose 5.4% from 98 cents ($224.3 million) from 93 cents ($229.4 million) last year. 

The company reported net sales of approximately $2.6 billion, an increase of approximately 12.1% from net sales of approximately $2.3 billion reported in the fiscal second quarter of 2011. Comparable-store sales in the fiscal second quarter of 2012 increased by approximately 3.5%, compared with an increase of approximately 5.6% in last year's fiscal second quarter. 

For the fiscal first half, the company reported net earnings of $1.87 per diluted share ($431.2 million), an increase of approximately 13.3% over net earnings of $1.65 per diluted share ($410 million) in the corresponding period a year ago. Net sales for the fiscal first half of 2012 were approximately $4.811 billion, an increase of approximately 8.8% from net sales of approximately $4.424 billion in the corresponding period a year ago. Comparable-store sales for the fiscal first half of 2012 increased by approximately 3.3%, compared with an increase of approximately 6.3% in last year's fiscal first half.

Bed Bath & Beyond is expecting net earnings per diluted share to be approximately 99 cents to $1.04 for the fiscal third quarter and continues to expect net earnings per diluted share to increase by a high single to a low double digit percentage range for all of fiscal 2012, which will be 53 weeks and includes World Market and Linen Holdings from the date of each acquisition to the end of the fiscal year.


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