Union, N.J. – Bed, Bath & Beyond met Wall Street expectations with falling net earnings during the fourth quarter of fiscal 2013. Compared to the same period a year earlier, net earnings dropped 11% to $333.3 million, from $373.87 million.
Net sales fell 6% to $3.2 billion, from $3.4 billion. In one bright spot, same-store sales rose 1.7%. Bed, Bath & Beyond attributed some of its net earnings decline to disruptive weather in the fourth quarter.
During the fiscal year, net earnings fell 2% to $1.02 billion, from $1.04 billion, although net sales rose 5.5% to $11.5 billion, from $10.9 billion. Same-store sales increased 2.4%.