Bed Bath & Beyond reports robust Q4 sales

Bed Bath & Beyond, the specialty housewares retailer, reported net sales of $2.24 billion for its fourth fiscal quarter, an increase of 16.7% from net sales of $1.92 billion in the same quarter last year. Comparable-store sales in the fourth quarter of 2009 increased by 11.5%, compared with a decrease of 4.3% in last year's fourth quarter.

Net income for the quarter, which ended on Feb. 27, was $226 million, an increase of 56% over earnings of $141.4 million in the same quarter a year ago.

For fiscal 2009, net sales reached $7.83 billion, an increase of 8.6% from the prior fiscal year. Comparable-store sales for fiscal 2009 grew 4.4%, compared with a decrease of 2.4% last year.

Bed Bath & Beyond posted $600 million in profits for fiscal 2009, compared with net earnings of $425.1 million in fiscal 2008.

As of Feb. 27, 2010, the Union, N.J.-based company had a total of 1,100 stores, including 965 Bed Bath & Beyond locations in 49 states, the District of Columbia, Puerto Rico and Canada, 61 Christmas Tree Shops stores, 29 buybuy Baby stores and 45 stores under the names of Harmon or Harmon Face Values.