Bed Bath & Beyond First Quarter Earnings Call

Market Update Analysis:

Bed Bath & Beyond Earnings Call, First Quarter 2007

Author: Albena Toncheva
123jump.com
Last Update: 4:46 AM ET September 20 2007

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The home-merchandise retailer said that profit rose 4% on the stronger sales at the established stores. Net sales for the quarter jumped 11.3% from a year ago to $1.553 billion, while same-store sales increased 1.6%, vs. an increase of roughly 4.9% in the comparable period a year ago. During the quarter, the company repurchased 7 million shares of its common stock for an aggregate price of approximately $287 million.

Third-Quarter Financial Outlook

- Earnings are expected to be in the range of flat to low single digit percentage decrease compared with last year''s 50 cents per share.
- Earnings per share are anticipated to increase by approximately a mid to high single-digit percentage if comps are consistent with company’s guidance of 3% to 5% increase.

Fourth Quarter Forecast

The year-over-year change in earnings per share is expected to range from a low single-digit percentage decrease to a low single-digit percentage increase, primarily due to the extra week in fiscal 2006.

As a result of the ongoing share repurchase program, the acquisition of buybuy BABY and an increase in capital expenditures among other considerations, interest income is expected to decline for all of fiscal 2007.

There is no Question and Answer session associated with the first quarter earnings call conducted by Bed Bath & Beyond, Inc. (BBBY: chart) on June 27, 2007.

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