Bed Bath & Beyond Q2 2017 financial results: Net Sales Decrease of Approximately 1.7%

  • Net Earnings per Diluted Share of $.67, Including Unfavorable Impacts of Restructuring Charges Related to the Realignment of the Store Management Structure and Estimated Costs Associated with Hurricane Harvey
  • Net Sales Decrease of Approximately 1.7%; Comparable Sales Decrease of Approximately 2.6%
  • Company Provides Update On Ongoing Transformational Initiatives

UNION, N.J., 2017-Sep-21 — /EPR Retail News/ — Bed Bath & Beyond Inc. (NASDAQ:BBBY) today (Sept. 19, 2017) reported financial results for the second quarter of fiscal 2017 ended August 26, 2017.

Second Quarter Results

For the fiscal 2017 second quarter, the Company reported net earnings of $.67 per diluted share ($94.2 million), including the unfavorable impacts of approximately $.08 per diluted share of cash restructuring charges associated with the acceleration of the realignment of our store management structure announced on August 3, 2017; the estimated costs associated with the impact of Hurricane Harvey of approximately $.02 per diluted share; and the impact of the new share-based payment accounting standard of approximately $.01 per diluted share, compared with $1.11 per diluted share ($167.3 million) for the fiscal 2016 second quarter.  Net sales for the fiscal 2017 second quarter were approximately $2.9 billion, a decrease of approximately 1.7% from the prior year quarter.  Comparable sales in the fiscal 2017 second quarter decreased by approximately 2.6%.  Comparable sales from customer-facing digital channels continued to have strong growth in excess of 20% for the 13th consecutive quarter, while comparable sales from stores declined in the mid-single-digit percentage range during the fiscal 2017 second quarter.

Transformational Initiatives

The Company is undertaking a number of transformational initiatives to drive operational excellence and further its mission to be its customer’s first choice for the home and heart-felt life events.  These initiatives will be discussed in further detail on the Company’s conference call with analysts and investors to be held today at 5:00 pm (ET).

The Company believes the initiatives to drive operational excellence, as well as opportunities for added efficiencies, should produce savings in excess of $150 million over the next few years, a portion of which may be strategically reinvested toward future growth.

Capital Allocation

The Company’s Board of Directors has declared a quarterly dividend of $.15 per share, to be paid on January 16, 2018 to shareholders of record at the close of business on December 15, 2017.

During the fiscal 2017 second quarter, the Company repurchased approximately $56 million of its common stock, representing approximately 1.8 million shares, under its existing $2.5 billion share repurchase program.  As of August 26, 2017, the program had a remaining balance of approximately $1.6 billion.

Fiscal 2017

During the call, the Company plans to review its financial planning assumptions for fiscal 2017, which is a 53-week year.

The Company’s planning assumptions reflect actual results through the fiscal second quarter and the continuation of the trends the Company has been experiencing, and the unfavorable impacts of:  the cash restructuring charges associated with the acceleration of the realignment of our store management structure; Hurricanes Harvey and Irma; the adoption of the new shared based payment accounting standard; and further increases in its overall expense structure to reflect some of the accelerated spending associated with the Company’s organizational changes and transformational initiatives.  Based upon these planning assumptions, the Company is now modeling net earnings per diluted share for the full year to be about $3.00, with the balance of the net earnings per diluted share to be split approximately 20% in the fiscal third quarter and approximately 80% in the fiscal fourth quarter.

Fiscal 2017 Second Quarter Conference Call

The Company’s fiscal 2017 second quarter conference call  may be accessed by dialing 1-800-446-1671, or if international, 1-847-413-3362, using conference ID number 45587344. The replay of the call can be accessed by dialing 1-888-843-7419, using conference ID number 45587344.  The call and replay can also be accessed via audio webcast on the investor relations section of our website at www.bedbathandbeyond.com.

About the Company

Bed Bath & Beyond Inc. and subsidiaries (the “Company”) is an omnichannel retailer selling a wide assortment of domestics merchandise and home furnishings which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon, Harmon Face Values or Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus. Customers can purchase products either in-store, online, with a mobile device or through a customer contact center. The Company generally has the ability to have customer purchases picked up in-store or shipped direct to the customer from the Company’s distribution facilities, stores or vendors. In addition, the Company operates Of a Kind, an e-commerce website that features specially commissioned, limited edition items from emerging fashion and home designers; One Kings Lane, an authority in home décor and design, offering a unique collection of select home goods, designer and vintage items; PersonalizationMall.com, an industry-leading online retailer of personalized products; Chef Central, an online retailer of kitchenware, cookware and homeware items catering to cooking and baking enthusiasts; and Decorist, an online interior design platform that provides personalized home design services. The Company also operates Linen Holdings, a provider of a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.

The Company operates websites at bedbathandbeyond.com, bedbathandbeyond.ca, worldmarket.com, buybuybaby.com, buybuybaby.ca, christmastreeshops.com, andthat.com, harmondiscount.com, facevalues.com, ofakind.com, onekingslane.com, personalizationmall.com, chefcentral.com, decorist.com, harborlinen.com, and t-ygroup.com.  As of August 26, 2017, the Company had a total of 1,550 stores, including 1,023 Bed Bath & Beyond stores in all 50 states, the District of Columbia, Puerto Rico and Canada, 277 stores under the names of World Market, Cost Plus World Market or Cost Plus, 114 buybuy BABY stores, 81 stores under the names Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, and 55 stores under the names Harmon, Harmon Face Values or Face Values.  During the fiscal second quarter, the Company opened one Bed Bath & Beyondstore, two World Market stores, one buybuy BABY store, and one andThat! store, and closed one World Market store.  In addition, the Company is a partner in a joint venture which operates eight stores in Mexico under the name Bed Bath & Beyond.

Forward-Looking Statements

This press release may contain forward-looking statements.  Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, and similar words and phrases.  The Company’s actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in the retailing environment; consumer preferences, spending habits and adoption of new technologies; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential competitors; competition from other channels of distribution; pricing pressures; liquidity; the ability to achieve anticipated cost savings, and to not exceed anticipated costs, associated with organizational changes; the ability to attract and retain qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; potential supply chain disruption due to trade restrictions, political instability, labor disturbances, product recalls, financial or operational instability of suppliers or carriers, and other items; the ability to find suitable locations at acceptable occupancy costs and other terms to support the Company’s plans for new stores; the ability to assess and implement technologies in support of the Company’s development of its omnichannel capabilities; the ability to establish and profitably maintain the appropriate mix of digital and physical presence in the markets it serves; uncertainty in financial markets; volatility in the price of the Company’s common stock and its effect, and the effect of other factors, on the Company’s capital allocation strategy; disruptions to the Company’s information technology systems including but not limited to security breaches of systems protecting consumer and employee information; reputational risk arising from challenges to the Company’s or a third party supplier’s compliance with various laws, regulations or standards, including those related to labor, health, safety, privacy or the environment; reputational risk arising from third-party merchandise or service vendor performance in direct home delivery or assembly of product for customers; changes to statutory, regulatory and legal requirements, including without limitation proposed changes affecting international trade; changes to, or new, tax laws or interpretation of existing tax laws; new, or developments in existing, litigation, claims or assessments; changes to, or new, accounting standards; foreign currency exchange rate fluctuations; and the integration of acquired businesses.  The Company does not undertake any obligation to update its forward-looking statements.

INVESTOR CONTACT:
Janet M. Barth
(908) 613-5820

SOURCE: Bed Bath & Beyond Inc.

Alliance Data Systems’ Columbus OH-based card services business and Bed Bath & Beyond to develop a co-brand credit card program

Program to leverage Alliance Data’s innovative mobile and digital capabilities and multi-channel account acquisition solutions to assist Bed Bath & Beyond

PLANO, Texas and UNION, N.J., 2016-Jun-14 — /EPR Retail News/ — Alliance Data Systems Corporation (NYSE: ADS), a leading global provider of data-driven marketing and loyalty solutions, and Bed Bath & Beyond Inc. (NASDAQ: BBBY), a retailer selling a wide assortment of domestic merchandise and home furnishings, today announced that Alliance Data Systems’Columbus, Ohio-based card services business, a premier provider of branded private label, co-brand and business credit programs and Bed Bath & Beyond Inc. have signed a new long-term agreement to develop a co-brand credit card program.

Alliance Data will develop a tailored marketing strategy for Bed Bath & Beyond and each of its concepts, utilizing its proven data-driven lifecycle marketing approach. The program will also offer an industry-leading value proposition resulting in deeper customer engagement. To attract new cardmembers, Alliance Data will employ its unique data assets and analytical marketing expertise to deliver custom insights and identify potential new customers for all of Bed Bath & Beyond’s concepts.  The program will focus on a multi-channel approach leveraging some of Alliance Data’s proprietary in-store, online and mobile capabilities.

Bed Bath & Beyond continuously seeks to provide innovative products, services and solutions that drive meaningful engagement with its customers, and this new multi-faceted relationship with Alliance Data is an important step forward in its mission to do more for and with its customers. The new Bed Bath & Beyond credit card program will reflect all that the brand represents and will be important not only to driving sales, but also to strengthening the relationships with its customers.

“It is truly a privilege to work with home goods category leader Bed Bath & Beyond. We are confident that our innovative marketing approach, premier predictive analytics and brand- and customer-centric philosophy perfectly align with Bed Bath & Beyond’s goals of attracting new customers and increasing brand engagement among loyal cardmembers,” said Melisa Miller, president of Alliance Data’s card services business. “We look forward to delivering a differentiated value proposition and providing actionable insights that will drive both top-line and incremental sales for Bed Bath & Beyond.”

About Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. and subsidiaries is a retailer selling a wide assortment of domestics merchandise and home furnishings which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon or Harmon Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus. Customers can purchase products from the Company either in-store, online, with a mobile device or through a contact center. The Company generally has the ability to have customer purchases picked up in-store or shipped direct to the customer from the Company’s distribution facilities, stores or vendors. In addition, the Company operates Of a Kind, an e-commerce website that features specially commissioned, limited edition items from emerging fashion and home designers. The Company also operates Linen Holdings, a provider of a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries. Additionally, the Company is a partner in a joint venture which operates seven retail stores in Mexico under the name Bed Bath & Beyond.

The Company operates websites at bedbathandbeyond.com, bedbathandbeyond.ca, worldmarket.com, buybuybaby.com, buybuybaby.ca, christmastreeshops.com, harmondiscount.com, and ofakind.com. As of February 27, 2016, the Company had a total of 1,530 stores operating in all 50 states, the District of Columbia, Puerto Rico and Canada, including 1,020 Bed Bath & Beyond stores, 276 stores under the names of World Market, Cost Plus World Market or Cost Plus, 105 buybuy BABY stores, 78 stores under the names Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, and 51 stores under the names Harmon or Harmon Face Values. In addition, the Company is a partner in a joint venture which operates seven stores in Mexico under the name Bed Bath & Beyond.

About Alliance Data’s card services business
Alliance Data’s card services business is a leading provider of tailored marketing and loyalty solutions, delivered through branded credit programs that drive more profitable relationships between our brand partners and their cardmembers. We offer private label, co-brand, and business products to many of the world’s most recognizable brands across a multitude of channels.

We uphold our Know more. Sell more.® promise by leveraging unmatched customer insights, advanced analytics, and broad-reaching innovative capabilities. It’s how we deliver increased sales to our partners, build enduring loyalty to their brands, and provide more value to our cardmembers. Alliance Data’s card services business is a proud part of the Alliance Data enterprise. To learn more, visitwww.knowmoresellmore.com or follow us on Twitter @Know_SellMore.

About Alliance Data
Alliance Data® (NYSE: ADS) is a leading global provider of data-driven marketing and loyalty solutions serving large, consumer-based industries. The Company creates and deploys customized solutions, enhancing the critical customer marketing experience; the result is measurably changing consumer behavior while driving business growth and profitability for some of today’s most recognizable brands. Alliance Data helps its clients create and increase customer loyalty through solutions that engage millions of customers each day across multiple touch points using traditional, digital, mobile and emerging technologies. An S&P 500 and Fortune 500 company headquartered in Plano, Texas, Alliance Data consists of three businesses that together employ more than 16,000 associates at approximately 100 locations worldwide.

Alliance Data’s card services business is a leading provider of marketing-driven branded credit card programs. Epsilon® is a leading provider of multichannel, data-driven technologies and marketing services, and also includes Conversant®, a leader in personalized digital marketing.LoyaltyOne® owns and operates the AIR MILES® Reward Program, Canada’s premier coalition loyalty program, and holds a majority interest inNetherlands-based BrandLoyalty, a global provider of tailor-made loyalty programs for grocers.

Follow Alliance Data on Twitter, Facebook, LinkedIn and YouTube.

Forward Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements.

We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. These risks and uncertainties include, but are not limited to, factors set forth in the Risk Factors section in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K.

Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

Contact:

Alliance Data

Tiffany Louder – Investor Relations
214-494-3048
tiffany.louder@alliancedata.com

Steve Calk

FTI Consulting
212-850-5611
alliancedata@fticonsulting.com

Shelley Whiddon – Media
214-494-3811
shelley.whiddon@alliancedata.com

Bed Bath & Beyond
Janet Barth – Investor Relations
908-613-5820
janet.barth@bedbath.com

Jessica Joyce – Public Relations
908-613-5461
jessica.joyce@bedbath.com

SOURCE Alliance Data Systems Corporation

ED Ellen DeGeneres™ bedding collection now available exclusively at Bed Bath & Beyond

UNION, N.J., 2016-May-06 — /EPR Retail News/ — BED BATH & BEYOND® is excited to announce the launch of the ED Ellen DeGeneres™ bedding collection. The collection is reflective of DeGeneres’s personal style and design aesthetic, now available exclusively at Bed Bath & Beyond.

The collection features six bedding patterns that consist of geometric prints mixed with botanicals, artisanal stitch work details, and washed textures.  DeGeneres’s passion and keen eye for interior design inspired the beautifully designed, high-quality bedding collection. The line brings whimsical charm and sophisticated comfort for everyday living. The collection ranges in price from $49.99 for decorative pillows to $169.99 for a king size duvet cover.

“I am excited to launch my bedding collection exclusively with Bed Bath & Beyond.  I created this beautiful, comfortable and sophisticated collection for everyone!” stated DeGeneres.

“We are excited to exclusively offer our customers the ED Ellen DeGeneres bedding collection and to be working with a talent of Ellen’s caliber,” said Art Stark, President of Bed Bath & Beyond. “The collection appeals to our customers who are looking to update their home with quality, well-designed bedding inspired by Ellen’s design aesthetic.”

The collection is licensed and manufactured by Revman International. The collection is now available in stores and at www.bedbathandbeyond.com/ed.

About Bed Bath & Beyond:
Bed Bath & Beyond Inc. and subsidiaries (the “Company”) is a retailer selling a wide assortment of domestics merchandise and home furnishings which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops and That! or and That!, Harmon or Harmon Face Values, buy buy BABY and World Market, Cost Plus World Market or Cost Plus. Customers can purchase products from the Company either in-store, online, with a mobile device or through a contact center. As of February 27, 2016, the Company had a total of 1,530 stores. Shares of Bed Bath & Beyond Inc. are traded on NASDAQ under the symbol “BBBY”.

For more information: www.bedbathandbeyond.com.

About ED Ellen DeGeneres:
ED is Ellen DeGeneres’ new American lifestyle brand inspired by her iconic style, values and personality. With a passion for interior design, architecture and fashion, Ellen brings her unique vision to this beautifully designed, high quality collection of women’s apparel, accessories and decorative home. The lifestyle brand is real, accessible and every product feels like a personal connection between Ellen and the consumers around the world. EDbyEllen.com

About Revman International Inc.
Revman International Inc., a Kaltex company headquartered in New York, is a leading provider of high quality lifestyle bed and bath products. Revman maintains unique licensing arrangements with an impressive portfolio of internationally recognized designer brands including Nautica, Vera Wang, Tommy Bahama, Wedgwood, Marimekko and Laura Ashley, among many others. Their products are available through all major levels of retail distribution in the United States as well as retailers in Canada, Mexico, and South America.

For more information, please visit www.revman.com.

For more information/images, please contact: Bed Bath & Beyond, Jessica Joyce, Public Relations, (908) 613-5461, Jessica.Joyce@bedbath.com ; ED Ellen DeGeneres, Erika Stair, Public Relations, (646) 214-2892

SOURCE ED Ellen DeGeneres; Bed Bath & Beyond Inc.

 

Bed Bath & Beyond’s Q3 FY 2015 comparable sales on digital channels grew in excess of 25%

  • Net Earnings per Diluted Share of $1.09
  • Net Sales Increased by Approximately 0.3%; 0.7% on a Constant Currency Basis
  • Comparable Sales Decreased by Approximately 0.4%; Relatively Flat on a Constant Currency Basis
  • Comparable Sales from Customer Facing Digital Channels Grew in Excess of 25%
  • Modeling Fiscal Fourth Quarter and Full Year 2015 Net Earnings per Diluted Share of Approximately $1.72 to $1.86 and Approximately $4.91 to $5.05, respectively

UNION, N.J., 2016-Jan-14 — /EPR Retail News/ — Bed Bath & Beyond Inc. (NASDAQ: BBBY) today reported financial results for the third quarter of fiscal 2015 ended November 28, 2015.

Fiscal 2015 Third Quarter and Nine Months Results

For the third quarter of fiscal 2015, the Company reported net earnings of $1.09 per diluted share ($177.8 million) compared with $1.23 per diluted share ($225.4 million) for the third quarter of fiscal 2014.  On December 22, 2015, the Company announced revised net earnings estimates of $1.07 to $1.10 per diluted share for the fiscal third quarter of 2015.  The third quarter year-over-year comparison of net earnings per diluted share was unfavorably impacted by approximately $0.13, based on the fiscal 2015 diluted weighted average shares outstanding, due to the following non-comparable items:  a non-recurring credit card fee litigation settlement benefit that occurred in the third quarter of fiscal 2014; lower net after tax benefits in the third quarter of fiscal 2015 as compared to fiscal 2014 due to distinct tax events; and an unfavorable foreign currency rate impact in the third quarter of fiscal 2015.

For the third quarter of fiscal 2015, net sales were approximately $2.952 billion, an increase of approximately 0.3% from net sales of approximately $2.943 billion reported in the third quarter of fiscal 2014.  Net sales on a constant currency basis (a non-GAAP measure) increased by approximately 0.7% for the third quarter of fiscal 2015. Comparable sales in the third quarter of fiscal 2015 decreased by approximately 0.4%, compared with an increase of approximately 1.7% in last year’s fiscal third quarter.  Comparable sales on a constant currency basis (a non-GAAP measure) were relatively flat for the third quarter of fiscal 2015.  Comparable sales from customer facing digital channels grew in excess of 25% while comparable sales from stores declined in the low single-digit percentage range during the third quarter of fiscal 2015.

For the fiscal nine months ended November 28, 2015, the Company reported net earnings of $3.22 per diluted share ($537.9 million) compared with $3.31 per diluted share ($636.4 million) in the corresponding period a year ago.  Net sales for the fiscal nine months of 2015 were approximately $8.686 billion, an increase of approximately 1.7% from net sales of approximately$8.545 billion in the corresponding period a year ago.  Net sales on a constant currency basis increased by approximately 2.0% for the fiscal nine months. Comparable sales for the fiscal nine months of 2015 increased by approximately 0.8%, compared with an increase of approximately 1.9% in last year’s fiscal nine months.  Comparable sales on a constant currency basis increased by approximately 1.2% for the fiscal nine months of 2015.  Comparable sales from customer facing digital channels grew approximately 30% while comparable sales from stores declined in the low single-digit percentage range during the fiscal nine months of 2015.

Share Repurchase Program

During the third quarter of fiscal 2015, the Company repurchased approximately $194 million of its common stock, representing approximately 3.3 million shares, under its existing share repurchase program.  As of November 28, 2015, the remaining balance of the current $2.0 billion share repurchase program was approximately $110 million.  The Company is modeling to complete its current share repurchase program during the fourth quarter of 2015 and commence repurchases under the new $2.5 billion authorization, approved by the Board of Directors in September 2015.

Fiscal 2015 Financial Model

The Company is now modeling comparable sales to be between relatively flat and an increase of approximately 2.0% for the fiscal 2015 fourth quarter which results in a range of approximately 0.6% to 1.1% for the fiscal full year.  Net earnings per diluted share are modeled to be in the range of approximately $1.72 to $1.86 for the fiscal 2015 fourth quarter and approximately $4.91 to $5.05 for the fiscal full year.  The modeling of net earnings per diluted share is based upon a number of assumptions which will be described in the Company’s third quarter of fiscal 2015 conference call. Information regarding access to the call is available in the Investor Relations section of the Company’s website, www.bedbathandbeyond.com.

About the Company
Bed Bath & Beyond Inc. and subsidiaries (the “Company”) is a retailer selling a wide assortment of domestics merchandise and home furnishings which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon or Harmon Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus. Customers can purchase products from the Company either in-store, online or through a mobile device. The Company has the developing ability to have customer purchases picked up in-store or shipped direct to the customer from the Company’s distribution facilities, stores or vendors.  In addition, the Company operates Of a Kind, an e-commerce website that features specially commissioned, limited edition items from emerging fashion and home designers.  The Company also operates Linen Holdings, a provider of a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries.  Additionally, the Company is a partner in a joint venture which operates retail stores inMexico under the name Bed Bath & Beyond.

The Company operates websites at bedbathandbeyond.com, worldmarket.com, buybuybaby.com, christmastreeshops.com, harmondiscount.com, and ofakind.com.  As of November 28, 2015, the Company had a total of 1,526 stores, including 1,022 Bed Bath & Beyond stores in all 50 states, the District of Columbia, Puerto Rico and Canada, 276 stores under the names of World Market, Cost Plus World Market or Cost Plus, 100 buybuy BABY stores, 78 stores under the names Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, and 50 stores under the names Harmon or Harmon Face Values.  During the fiscal third quarter, the Company opened five Bed Bath & Beyond stores, one buybuy BABY store and six Cost Plus World Marketstores and closed six Bed Bath & Beyond stores.  In addition, the Company is a partner in a joint venture which operates six stores in Mexico under the name Bed Bath & Beyond.

Non-GAAP Information

This press release contains certain non-GAAP information, such as net sales on a constant currency basis, which is intended to provide visibility into the Company’s operations by excluding the effects of foreign currency exchange rate fluctuations.

Forward-Looking Statements

This press release may contain forward-looking statements.  Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, and similar words and phrases.  The Company’s actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in the retailing environment; consumer preferences, spending habits and adoption of new technologies; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential competitors; competition from other channels of distribution; pricing pressures; liquidity; the ability to attract and retain qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; potential supply chain disruption due to political instability, labor disturbances and other items; the ability to find suitable locations at acceptable occupancy costs and other terms to support the Company’s plans for new stores; the ability to assess and implement technologies in support of the Company’s development of its omnichannel capabilities; uncertainty in financial markets; disruptions to the Company’s information technology systems including but not limited to security breaches of systems protecting consumer and employee information; reputational risk arising from challenges to the Company’s or a third party supplier’s compliance with various laws, regulations or standards, including those related to labor, health, safety, privacy or the environment; reputational risk arising from third-party merchandise or service vendor performance in direct home delivery or assembly of product for customers; changes to statutory, regulatory and legal requirements; new, or developments in existing, litigation, claims or assessments; changes to, or new, tax laws or interpretation of existing tax laws; changes to, or new, accounting standards including, without limitation, changes to lease accounting standards; foreign currency exchange rate fluctuations; and the integration of acquired businesses.  The Company does not undertake any obligation to update its forward-looking statements.

SOURCE Bed Bath & Beyond Inc.

INVESTOR CONTACTS: Janet M. Barth, (908) 613-5820; Kenneth C. Frankel, (908) 855-4554