Union, N.J. – Bed Bath & Beyond Inc. reported positive financial results for the first quarter of fiscal 2013. Although net earnings fell from $206.8 million to $202.5 million, net earnings per diluted share increased roughly 4.5% from $0.89 to $0.93.
Net sales for the fiscal first quarter of 2013 were approximately $2.6 billion, an increase of approximately 17.8% from net sales of approximately $2.2 billion reported in the fiscal first quarter of 2012. Comparable store sales in the fiscal first quarter of 2013 increased by approximately 3.4%, compared with an increase of approximately 3% in last year's fiscal first quarter.
As of June 1, 2013, the company had a total of 1,478 stores, including 1,008 Bed Bath & Beyond stores in all 50 states, the District of Columbia, Puerto Rico and Canada, 266 stores under the names of World Market or Cost Plus World Market, 83 buybuy Baby stores, 73 stores under the names of Christmas Tree Shops or andThat!, and 48 stores under the names of Harmon or Harmon Face Values. During the fiscal first quarter, the Company opened four Bed Bath & Beyond stores, two World Market stores, one buybuy Baby store and one Harmon Face Values store and closed one Christmas Tree Shops store.