Union City, NJ, June 24--Bed Bath & Beyond Inc.'s net income in the latest quarter rose almost 43 percent as the company added stores and boosted sales per store.
In the quarter ended May 31, home furnishing and decor retailer earned $82 million, or 27 cents a share, on revenue of $1.1 billion. In the same period last year, it earned $57.5 million, or 19 cents a share, on revenue of $894 million.
Analysts were expecting earnings of 25 cents a share on revenue of $1.09 billion, according to Thomson First Call
The company's sales at stores open more than one year, or same-store sales, rose 5.1 percent for the quarter. It opened 19 stores during the 13 weeks for a total of 592 Bed Bath & Beyond stores in operation.
Bed Bath & Beyond plans to open 80 to 90 stores during fiscal 2005.
