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Bed Bath & Beyond Cleans Up Without Competition

By Scott Rothbort

 About this article:
 For Rothbort's preview of Bed Bath & Beyond before the earnings call, click here. Bed Bath & Beyond reported EPS of 34 cents on net sales of $1.694 billion for the company's fiscal first quarter. Same-store sales for the quarter declined by 1.6%. During the quarter, BBBY opened six new stores including its fifth Canadian unit. The company ended the quarter with 1,044 stores: 935 Bed Bath & Beyond (BB&Y), 53 Christmas Shops, 16 Buy Buy Babys and 40 Harmons. Two net new Bed Bath & Beyond units have opened so far in the 2nd quarter. BBBY expects to open 57 new stores in fiscal 2009. In addition, the Harmon department will be added in more BB&Y stores. Management believes that there is room for another 400 BB&Y stores across the U.S. Gross profits margins were 39.4% vs. 39.8% a year ago. The decline was attributed to...

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