Bed, Bath & Beyond Sees Earnings Slide

Union, NJ, Jan. 8, 2009--Bed Bath & Beyond Inc. said Wednesday that its third-quarter earnings fell more than 36 percent as revenue and same-store sales slipped on a continued pullback in consumer spending.

For the quarter ending Nov. 29, the company earned $87.7 million, or $0.34 per share. That's down from a year-ago profit of $138.2 million, or $0.52 per share.

Sales fell 0.7 percent to $1.78 billion from $1.79 billion last year.

Last month the company lowered its outlook for its fiscal third quarter, saying its same-store sales had slipped more than it anticipated.