Bed Bath and Beyond earnings surge 14% in Q4

UNION, N.J. — Bed Bath & Beyond Inc. reported net earnings of $1.68 per diluted share ($373.9 million) in the fiscal fourth quarter ended March 2, 2013, an increase of approximately 14% versus net earnings of $1.48 per diluted share ($351 million) in the same quarter a year ago.  

Net sales for the fiscal fourth quarter (fourteen weeks) of 2012 were approximately $3.4 billion, an increase of approximately 24.5% from net sales of approximately $2.7 billion reported in the fiscal fourth quarter (thirteen weeks) of 2011.  Comparable-store sales in the fiscal fourth quarter of 2012 increased by approximately 2.5%, compared with an increase of approximately 6.8% in last year's fiscal fourth quarter.  

For the fiscal year, the company reported net earnings of $4.56 per diluted share ($1.04 billion), an increase of approximately 12% over net earnings of $4.06 per diluted share ($989.5 million) in the corresponding period a year ago.  

Net sales for fiscal 2012 were approximately $10.9 billion, an increase of approximately 14.9% from net sales of approximately $9.500 billion in the corresponding period a year ago (fifty-two weeks).  Comparable-store sales for fiscal 2012 increased by approximately 2.7% compared with an increase of approximately 5.9% last year. 

The company said it expects net earnings per diluted share to be